PSE&G to offer 10-year, 30-year series P green bonds

By William Gullotti

Buffalo, N.Y., March 23 – Public Service Electric & Gas Co. intends to price two new offerings of its series P secured medium-term green bonds due March 15, 2033 and March 15, 2053, according to two 424B3 filings with the Securities and Exchange Commission.

As with the company’s previous offerings of series P green bonds, both intended tranches will have a make-whole call followed by a par call. The par call for the 10-year series will start Dec. 15, 2032, three months prior to maturity. The par call for the 30-year series will start Sept. 15, 2052, six months prior to maturity.

Academy Securities Inc., BNP Paribas Securities Corp., BNY Mellon Capital Markets LLC, BofA Securities Inc., CIBC World Markets Corp., Loop Capital Markets LLC, MUFG Securities Americas Inc., RBC Capital Markets LLC and U.S. Bancorp Investments Inc. are the underwriters.

Proceeds from the aggregate offering will be used to finance or refinance new or existing eligible green projects.

PSE&G is a Newark-based utility.

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