Delmarva Power & Light sells $75 million; Potomac Electric Power seals $150 million bonds

By Devika Patel

Knoxville, Tenn., June 13 – On Thursday, two private placement deals were announced from affiliated companies.

Newark-based Delmarva Power & Light Co., an electric and natural gas utility, priced a $75 million private placement of 4.14% first mortgage bonds due Dec. 12, 2049.

Potomac Electric Power Co., a utility based in Washington, D.C., priced and settled a $150 million private placement of 3.45% first mortgage bonds due June 13, 2029.

Mizuho Securities USA LLC and Scotia Capital (USA) Inc. were the agents for the Potomac bonds.

Potomac will use the proceeds to repay debt and for general corporate purposes.

Both issuers are subsidiaries of Exelon Corp., a utility services holding company based in Chicago.

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