By Andrea Heisinger
Omaha, Nov. 13 - Potomac Electric Power Co. priced $250 million of 6.5% 30-year first mortgage bonds Tuesday to yield 190 basis points more than Treasuries, an informed source said.
The bonds (Baa1/BBB+) priced at 99.751 to yield 6.519% and have a make-whole call at Treasuries plus 35 bps.
Bookrunners were BNY Capital Markets and Wachovia Securities.
Proceeds will be used to repay short-term debt.
The electric company is based in Washington, D.C.
| Issuer: | Potomac Electric Power Co.
|
| Issue: | First mortgage bonds
|
| Amount: | $250 million
|
| Maturity: | Nov. 15, 2037
|
| Bookrunners: | BNY Capital Markets, Wachovia Securities
|
| Coupon: | 6.5%
|
| Price: | 99.751
|
| Yield: | 6.519%
|
| Spread: | Treasuries plus 190 bps
|
| Call: | Make-whole at Treasuries plus 35 bps
|
| Trade date: | Nov. 13
|
| Settlement date: | Nov. 16
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB+
|
© 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.
