OG&E intends to issue $400 million of senior notes due 2028

By Devika Patel

Knoxville, Tenn., Aug. 14 – Oklahoma Gas & Electric Co. plans to price $400 million of senior notes due Aug. 15, 2028, according to a 424B5 filed with the Securities and Exchange Commission.

The notes feature a make-whole call until Feb. 15, 2028 and then a par call.

Mizuho Securities USA Inc., RBC Capital Markets Corp. and Wells Fargo Securities LLC are the bookrunners.

Proceeds will be used for general corporate purposes, including repaying the company's $250 million of 6.35% senior notes due Sept. 1, 2018 at maturity, repaying short-term debt, funding its capital expenditure program and providing working capital.

The electric utility is based in Oklahoma City.

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