New Issue: Oklahoma Gas & Electric prices $300 million 3.3% notes due 2030 at 120 bps spread

By Cristal Cody

Tupelo, Miss., June 4 – Oklahoma Gas & Electric Co. sold $300 million of 3.3% senior notes due March 15, 2030 on Tuesday at 99.707 to yield 3.333%, according to an FWP filing with the Securities and Exchange Commission.

The notes (A3/BBB+/A) priced at a spread of 120 basis points over Treasuries.

J.P. Morgan Securities LLC, MUFG and U.S. Bancorp Investments Inc. were the bookrunners.

Proceeds will be used for general corporate purposes, including the repayment of short-term debt, capital expenditures and working capital.

The electric utility is based in Oklahoma City.

Issuer:	Oklahoma Gas & Electric Co.
Amount:	$300 million
Description:	Senior notes
Maturity:	March 15, 2030
Bookrunners:	J.P. Morgan Securities LLC, MUFG and U.S. Bancorp Investments Inc.
Co-managers:	Morgan Stanley & Co. LLC, BOK Financial Securities, Inc., KeyBanc Capital Markets Inc. and Blaylock Van, LLC
Coupon:	3.3%
Price:	99.707
Yield:	3.333%
Spread:	Treasuries plus 120 bps
Call feature:	Make-whole call before Sept. 15, 2029 at Treasuries plus 20 bps; thereafter at par
Trade date:	June 4
Settlement date:	June 7
Ratings:	Moody’s: A3
	S&P: BBB+
	Fitch: A
Distribution:	SEC registered

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