By Cristal Cody
Eureka Springs, Ark., Aug. 15 – Oncor Electric Delivery Co. LLC priced $175 million of 3.75% senior notes due April 1, 2045 with a spread of 110 basis points over Treasuries on Monday, according to a market source.
The notes (A3/BBB+/BBB) priced on the tight side of guidance in the 115 bps area, plus or minus 5 bps.
BofA Merrill Lynch and Barclays were the bookrunners.
The company originally sold $375 million of the notes on March 19, 2015 at Treasuries plus 125 bps. The total outstanding is $550 million.
Oncor Electric Delivery is an electric company based in Dallas.
| Issuer: | Oncor Electric Delivery Co. LLC
|
| Amount: | $175 million reopening
|
| Description: | Senior notes
|
| Maturity: | April 1, 2045
|
| Bookrunners: | BofA Merrill Lynch, Barclays
|
| Coupon: | 3.75%
|
| Spread: | Treasuries plus 110 bps
|
| Trade date: | Aug. 15
|
| Ratings: | Moody’s: A3
|
| S&P: BBB+
|
| Fitch: BBB
|
| Price guidance: | Treasuries plus 115 bps area, plus or minus 5 bps
|
| Total outstanding: | $550 million, including $375 million priced on March 19, 2015 at 125 bps over Treasuries
|
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