By Aleesia Forni
Virginia Beach, June 15 – Orange & Rockland Utilities Inc. sold $120 million of 4.95% 30-year senior notes on Monday with a spread of Treasuries plus 187.5 basis points, a market source said.
The notes (A3/A-/A-) priced at 99.394 to yield 4.989%.
Proceeds will be used for general corporate purposes.
BofA Merrill Lynch and BNY Mellon were the bookrunners.
The electric and natural gas subsidiary of Consolidated Edison is based in Pearl River, N.Y.
| Issuer: | Orange & Rockland Utilities Inc.
|
| Amount: | $120 million
|
| Description: | Senior notes
|
| Maturity: | July 1, 2045
|
| Bookrunners: | BofA Merrill Lynch, BNY Mellon
|
| Coupon: | 4.95%
|
| Price: | 99.394
|
| Yield: | 4.989%
|
| Spread: | Treasuries plus 187.5 bps
|
| Trade date: | June 15
|
| Settlement date: | June 18
|
| Ratings: | Moody’s: A3
|
| Standard & Poor’s: A-
|
| Fitch: A-
|
| Price guidance: | Treasuries plus high-100 bps area
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
