By Andrea Heisinger
New York, Sept. 8 - Oncor Electric Delivery LLC sold $475 million of 5.25% 30-year senior secured bonds on Wednesday to yield 158 basis points over Treasuries, a source close to the sale said.
The bonds (Baa1/A-/) priced at 99.264 to yield 5.299%. They have a make-whole call at Treasuries plus 25 bps.
The deal was sold under Rule 144A and Regulation S.
Bookrunners were Barclays Capital Inc. and Citigroup Global Markets Inc., with Credit Suisse Securities as a passive bookrunner.
The electric utility is based in Dallas.
| Issuer: | Oncor Electric Delivery LLC
|
| Issue: | Senior secured bonds
|
| Amount: | $475 million
|
| Maturity: | Sept. 30, 2040
|
| Bookrunners: | Barclays Capital Inc., Citigroup Global Markets Inc. (active), Credit Suisse Securities (passive)
|
| Coupon: | 5.25%
|
| Price: | 99.264
|
| Yield: | 5.299%
|
| Spread: | Treasuries plus 158 bps
|
| Call: | Make-whole at Treasuries plus 25 bps
|
| Distribution: | Rule 144A and Regulation S
|
| Trade date: | Sept. 8
|
| Settlement date: | Sept. 13
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: A-
|
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