By Wendy Van Sickle and Cristal Cody
Columbus, Ohio, Sept. 8 – Puget Sound Energy, Inc. sold $450 million of 2.893% 30-year senior notes on Wednesday at a spread of 95 basis points over Treasuries, according to an FWP filing with the Securities and Exchange Commission.
Talk was for a spread in the Treasuries plus 120 bps area.
The notes (A2/A-/A) priced at par to yield 2.893%.
Barclays, J.P. Morgan Securities LLC and Wells Fargo Securities, LLC were the lead bookrunners. Mizuho Securities USA LLC was a joint bookrunner.
Proceeds will be used to pay down a portion of the company’s commercial paper and for general corporate purposes.
Puget Sound Energy is a Bellevue, Wash.-based electric utility company.
| Issuer: | Puget Sound Energy, Inc.
|
| Amount: | $450 million
|
| Description: | Senior notes
|
| Maturity: | Sept. 15, 2051
|
| Bookrunners: | Barclays, J.P. Morgan Securities LLC, Wells Fargo Securities, LLC and Mizuho Securities USA LLC
|
| Co-managers: | RBC Capital Markets, LLC and TD Securities (USA) LLC
|
| Coupon: | 2.893%
|
| Price: | Par
|
| Yield: | 2.893%
|
| Spread: | Treasuries plus 95 bps
|
| Call features: | Make-whole call at Treasuries plus 15 bps before March 15, 2051; thereafter at par
|
| Trade date: | Sept. 8
|
| Settlement date: | Sept. 15
|
| Ratings: | Moody’s: A2
|
| S&P: A-
|
| Fitch: A
|
| Distribution: | SEC registered
|
| Talk: | Treasuries plus 120 bps area
|
| Cusip: | 745332CK0
|
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