PECO Energy plans to price first and refunding mortgage bonds

By William Gullotti

Buffalo, N.Y., Aug. 16 – PECO Energy Co. is planning to price a series of first and refunding mortgage bonds, according to a 424B5 filing with the Securities and Exchange Commission.

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

BofA Securities, Inc., Citigroup Global Markets Inc., RBC Capital Markets, LLC, BNP Paribas Securities Corp., Mizuho Securities USA LLC, PNC Capital Markets LLC and Scotia Capital (USA) Inc. are the joint bookrunning managers for the offering with M&T Securities, Inc. acting as senior co-manager.

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 outstanding commercial paper having an approximate weighted average interest rate of 2.58% per annum as of Aug. 12 with the remainder used for general corporate purposes.

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

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