Peco Energy eyeing $300 million first mortgage bonds due 2044

By Aleesia Forni

Virginia Beach, Sept. 8 – Peco Energy Co. is planning to price $300 million of first and refunding mortgage bonds due 2044, according to a 424B2 filing with the Securities and Exchange Commission.

The joint bookrunners are Mitsubishi UFJ Securities (USA), Inc., Mizuho Securities USA Inc., RBS Securities Inc., BNY Mellon Capital Markets, LLC and TD Securities (USA) LLC.

The senior co-manager is PNC Capital Markets LLC.

Proceeds will be used to pay at maturity $250 million 5% first mortgage bonds due Oct. 1, 2014 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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