Delmarva places $200 million bonds; Potomac Electric eyes $200 million

By Devika Patel

Knoxville, Tenn., June 22 –The week ended with two new private placements reported: Wilmington, Del., electric and natural gas utility Delmarva Power & Light Co. said it placed $200 million of 30-year first mortgage bonds and Washington, D.C., utility Potomac Electric Power Co. said that it arranged a $200 million private placement of first mortgage bonds in two tranches.

Delmarva Power & Light settles 4.27% bonds

Delmarva Power & Light reported that it arranged a $200 million private placement of 4.27% first mortgage bonds due June 15, 2048 on June 8.

J.P. Morgan Securities LLC and Mitsubishi UFJ Securities (USA), Inc. were the agents for the deal, which settled on June 21.

Proceeds will be used to repay debt and for general corporate purposes.

Potomac Electric plans $200 million of bonds

Potomac Electric Power said it will sell $200 million of 30-year first mortgage bonds in a private placement that priced on June 8.

J.P. Morgan Securities LLC and Mitsubishi UFJ Securities (USA), Inc. were the agents.

The bonds will be sold in two tranches as follows:

• $100 million of 4.27% bonds due June 15, 2048 was issued on June 21; and

• $100 million of 4.31% bonds due Nov. 1, 2048 will be issued.

Proceeds from the 4.27% bonds will be used to repay debt and for general corporate purposes.

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