PECO offers $375 million first and refunding mortgage bonds; talk at Treasuries plus 110 bps area

By Devika Patel and Cristal Cody

Knoxville, Tenn., March 1 – PECO Energy Co. intends to price $375 million of first and refunding mortgage bonds, according to a 424B2 filing with the Securities and Exchange Commission.

Initial price talk is in the Treasuries plus 110 basis points area, according to a market source.

The bonds have a make whole call and then a par call.

The active bookrunners are BNP Paribas Securities Corp., BofA Securities Inc. and SMBC Nikko Securities America Inc. Passive bookrunners are Morgan Stanley & Co. LLC and RBC Capital Markets Corp.

Proceeds will be used for general corporate purposes.

The electric and natural gas transmission subsidiary of Exelon is based in Philadelphia.

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