PSE&G eyes $500 million two-part offering of notes due 2019, 2044

By Aleesia Forni

Virginia Beach, May 28 - Public Service Electric & Gas Co. is planning to price a two-part offering of secured medium-term notes, series I, according to separate 424B5 filings with the Securities and Exchange Commission.

The sale is expected to include $250 million of notes due June 1, 2019 and $250 million of bonds due June 1, 2044.

The underwriters are BNY Mellon Capital Markets LLC, CIBC World Markets LLC, J.P. Morgan Securities LLC, Mitsubishi UFJ Securities (USA) Inc., Morgan Stanley & Co. LLC, Scotia Capital (USA) Inc., MFR Securities Inc. and U.S. Bancorp Investments Inc.

Both series will feature a make-whole call.

Proceeds will be used for general corporate purposes.

PSE&G is a Newark, N.J.-based utility.

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