PECO Energy plans to price first and refunding mortgage bonds

By Rebecca Melvin

Concord, N.H., May 17 – PECO Energy Co. is planning to price a series of first and refunding mortgage bonds, according to a 424B2 filing with the Securities and Exchange Commission.

The notes have a make-whole call and then a par call a certain number of months before the maturity date.

Credit Agricole Securities (USA) Inc., Goldman Sachs & Co. LLC, Scotia Capital (USA) Inc., MUFG, PNC Capital Markets LLC and Wells Fargo Securities LLC are the joint bookrunning managers.

Senior co-managers are Huntington Securities Inc. and Siebert Williams Shank & Co. LLC.

U.S. Bank NA is the trustee.

Ballard Spahr LLP is legal counsel to the issuer and Winston & Strawn LLP is legal counsel to the underwriters.

Proceeds will be used to refinance at maturity the company’s $350 million first and refunding mortgage bonds with a 2.375% coupon due 2022 and for general corporate purposes.

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

© 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.