By Andrea Heisinger
New York, Sept. 27 - Pepco Holdings, Inc. priced $250 million of 2.7% five-year notes to yield Treasuries plus 145 basis points on Monday, a source away from the sale said late in the afternoon.
The notes (Baa3/BBB/BBB) priced at 99.819 to yield 2.739%. They have a make-whole call of Treasuries plus 25 bps.
Bookunners were Bank of America Merrill Lynch, RBS Securities Inc. and Scotia Capital.
KeyBanc Capital Markets Inc. and SunTrust Robinson Humphrey Inc. were the co-managers.
Proceeds are being used to repay existing debt.
The electric and natural gas supply and delivery company is based in Washington, D.C.
| Issuer: | Pepco Holdings, Inc.
|
| Issue: | Notes
|
| Amount: | $250 million
|
| Maturity: | Oct. 1, 2015
|
| Bookrunners: | Bank of America Merrill Lynch, RBS Securities Inc., Scotia Capital
|
| Co-managers: | KeyBanc Capital Markets Inc., SunTrust Robinson Humphrey Inc.
|
| Coupon: | 2.7%
|
| Price: | 99.819
|
| Yield: | 2.739%
|
| Spread: | Treasuries plus 145 bps
|
| Call: | Make-whole at Treasuries plus 25 bps
|
| Trade date: | Sept. 27
|
| Settlement date: | Oct. 1
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB
|
| Fitch: BBB
|
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