By Cristal Cody
Tupelo, Miss., Aug. 8 – Oklahoma Gas & Electric Co. priced $300 million of 3.85% senior notes due Aug. 15, 2047 (A1/A-/A+) on Tuesday at a spread of 100 basis points over Treasuries, according to an FWP filing with the Securities and Exchange Commission.
The notes priced at 99.682 to yield 3.868%.
Bookrunners were J.P. Morgan Securities LLC, MUFG and U.S. Bancorp Investments Inc.
Proceeds will be used for general corporate purposes, including the repayment of short-term debt and borrowings under the company’s revolving credit facility.
The electric utility is based in Oklahoma City.
Issuer: | Oklahoma Gas & Electric Co.
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Amount: | $300 million
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Description: | Senior notes
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Maturity: | Aug. 15, 2047
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Bookrunners: | J.P. Morgan Securities LLC, MUFG and U.S. Bancorp Investments Inc.
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Co-managers: | BOK Financial Securities, Inc., KeyBanc Capital Markets Inc. and Morgan Stanley & Co. LLC
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Coupon: | 3.85%
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Price: | 99.682
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Yield: | 3.868%
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Spread: | Treasuries plus 100 bps
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Call features: | Make-whole call at Treasuries plus 15 bps until Feb. 15, 2047; thereafter at par
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Trade date: | Aug. 8
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Settlement date: | Aug. 11
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Ratings: | Moody’s: A1
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| S&P: A-
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| Fitch: A+
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Distribution: | SEC registered
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