PECO offers $325 million first and refunding mortgage bonds due 2048

By Devika Patel

Knoxville, Tenn., Feb. 15 – PECO Energy Co. plans a $325 million offering of first and refunding mortgage bonds due March 1, 2048, according to a 424B2 filing with the Securities and Exchange Commission.

The bonds have a make-whole call until Sept. 1, 2047 and are callable at par afterward.

The joint bookrunners are Mizuho Securities USA Inc., U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC.

PNC Capital Markets LLC is also assisting.

The senior co-manager is BNY Capital Markets Inc.

Proceeds will be used with cash balances to refinance some of the company’s $500 million of 5.35% first and refunding mortgage bonds due March 1, 2018 at maturity.

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

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