Peco Energy eyeing two-part offering of first mortgage bonds

By Aleesia Forni

Virginia Beach, Va., Sept. 16 - Peco Energy Co. is planning to price a two-part offering of first and refunding mortgage bonds due 2016 and 2043, according to a 424B5 filing with the Securities and Exchange Commission.

The joint bookrunners are BofA Merrill Lynch, Credit Suisse Securities (USA) LLC, Wells Fargo Securities LLC, Mizuho Securities and RBC Capital Markets.

BNY Mellon Capital Markets LLC and KeyBanc Capital Markets are the senior co-managers.

Proceeds will be used to pay at maturity $300 million 5.6% first mortgage bonds due Oct. 15, 2013 and for other general corporate purposes. Any remaining proceeds are expected to be temporarily invested in short-term interest-bearing obligations.

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

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