By Cristal Cody
Tupelo, Miss., Sept. 11 – PECO Energy Co. sold $325 million of 3.7% 30-year first and refunding mortgage bonds on Monday at a spread of 98 basis points over Treasuries, according to an FWP filing with the Securities and Exchange Commission.
The bonds (Aa3/A-/A) priced at 99.623 to yield 3.721%.
The bookrunners were BNP Paribas Securities Corp. and MUFG.
Proceeds will be used for general corporate purposes.
The electric and natural gas transmission subsidiary of Exelon is based in Philadelphia.
| Issuer: | PECO Energy Co.
|
| Amount: | $325 million
|
| Description: | First and refunding mortgage bonds
|
| Maturity: | Sept. 15, 2047
|
| Bookrunners: | BNP Paribas Securities Corp. and MUFG
|
| Senior co-manager: | Santander Investment Securities Inc.
|
| Co-managers: | CastleOak Securities, LP and C.L. King & Associates, Inc.
|
| Coupon: | 3.7%
|
| Price: | 99.623
|
| Yield: | 3.721%
|
| Spread: | Treasuries plus 98 bps
|
| Call features: | Make-whole call at greater of par or Treasuries plus 15 bps before March 15, 2047; thereafter at par
|
| Trade date: | Sept. 11
|
| Settlement date: | Sept. 18
|
| Ratings: | Moody’s: Aa3
|
| S&P: A-
|
| Fitch: A
|
| Distribution: | SEC registered
|
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