Potomac Electric to sell $200 million add-on to 4.15% bonds due 2043

By Devika Patel

Knoxville, Tenn., May 15 – Potomac Electric Power Co. intends to price a $200 million add-on to its 4.15% first mortgage bonds (A2/A/A-) due March 15, 2043, according to a 424B2 filing with the Securities and Exchange Commission.

The original $250 million issue sold at Treasuries plus 90 basis points on March 11, 2013. The company sold an additional $200 million of the notes at 110 bps over Treasuries on March 16.

The bonds have a make-whole call at 15 bps over Treasuries prior to Sept. 15, 2042 and are then callable at par.

RBC Capital Markets Corp. and TD Securities (USA) LLC are the bookrunners. BNY Capital Markets Inc. is the senior co-manager.

Proceeds will be used to repay outstanding commercial paper and for general corporate purposes.

Potomac Electric is a utility based in Washington, D.C.

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