New Issue: PECO sells $325 million 3% mortgage bonds due 2049 at 110 bps over Treasuries

Chicago, Sept. 3 – PECO Energy Co. priced $325 million of 3% 30-year first and refunding mortgage bonds on Tuesday at a spread of 110 basis points over Treasuries, according to an FWP filing with the Securities and Exchange Commission.

The bonds (Aa3/A/A+) priced at 99.177 to yield 3.042%.

The bookrunners were BofA Securities Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and SMBC Nikko Securities America, Inc.

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, 2049
Bookrunners:	BofA Securities Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and SMBC Nikko Securities America, Inc.
Senior co-manager:	Santander Investment Securities Inc.
Co-managers:	Academy Securities, Inc., Telsey Advisory Group LLC and Williams Capital Group, LP
Coupon:	3%
Price:	99.177
Yield:	3.042%
Spread:	Treasuries plus 110 bps
Call features:	Make-whole call at greater of par or Treasuries plus 20 bps before March 15, 2049; thereafter at par
Trade date:	Sept. 3
Settlement date:	Sept. 10
Ratings:	Moody’s: Aa3
	S&P: A
	Fitch: A+
Distribution:	SEC registered

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