By Devika Patel and Cristal Cody
Knoxville, Tenn., March 29 – Pennsylvania Electric Co. priced $300 million of 5.15% three-year notes with a spread of Treasuries plus 140 basis points on Tuesday, according to a market source.
Initial price talk was in the Treasuries plus 180 bps area.
Barclays, MUFG Securities Americas Inc. and U.S. Bancorp Investments Inc. were the bookrunners.
Pennsylvania Electric is an Akron, Ohio-based electric transmission and distribution company.
| Issuer: | Pennsylvania Electric Co.
|
| Amount: | $300 million
|
| Issue: | Notes
|
| Maturity: | March 30, 2026
|
| Bookrunners: | Barclays, MUFG Securities Americas Inc. and U.S. Bancorp Investments Inc.
|
| Coupon: | 5.15%
|
| Spread: | Treasuries plus 140 bps
|
| Trade date: | March 28
|
| Guidance: | Treasuries plus 180 bps area
|
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