Potomac Electric to price $150 million 30-year first mortgage bonds

By Aleesia Forni

Virginia Beach, Nov. 14 - Potomac Electric Power Co. is planning to price a $150 million issue of first mortgage bonds due Nov. 15, 2043, according to a 424B2 filing with the Securities and Exchange Commission.

Barclays, BofA Merrill Lynch, Credit Suisse Securities (USA) LLC and Scotia Capital (USA) Inc. are the joint bookrunners.

Mischler Financial Group Inc. and Ramirez & Co. Inc. are the co-managers.

The company intends to use the proceeds from the offering to repay outstanding commercial paper and for general corporate purposes.

Potomac Electric, a utility based in Washington, D.C., was last in the U.S. bond market with a $250 million sale of 30-year first mortgage bonds on March 11.

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