By Cristal Cody
Tupelo, Miss., May 28 – Pennsylvania Electric Co. sold $300 million of 3.6% 10-year senior notes (Baa1/BBB/BBB+) at a spread of 135 basis points over Treasuries on Tuesday, according to a market source.
Initial talk was in the Treasuries plus 155 bps area.
The bookrunners were Barclays, MUFG, PNC Capital Markets LLC and U.S. Bancorp Investments Inc.
Pennsylvania Electric is an electric utility company based in Akron, Ohio, and a subsidiary of FirstEnergy Corp.
Issuer: | Pennsylvania Electric Co.
|
Amount: | $300 million
|
Description: | Senior notes
|
Maturity: | June 1, 2029
|
Bookrunners: | Barclays, MUFG, PNC Capital Markets LLC and U.S. Bancorp Investments Inc.
|
Coupon: | 3.6%
|
Spread: | Treasuries plus 135 bps
|
Trade date: | May 28
|
Ratings: | Moody’s: Baa1
|
| S&P: BBB
|
| Fitch: BBB+
|
Price guidance: | Treasuries plus 155 bps area
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.