By Andrea Heisinger
New York, Nov. 14 - Puget Sound Energy, Inc. sold $250 million of 4.434% 30-year senior bonds on Monday at a spread of 135 basis points over Treasuries, a market source said.
The notes (A3/A-/) were priced at par to yield 4.434%. They have a make-whole call at Treasuries plus 20 bps until May 15, 2041 and are callable after that date at par.
Bookrunners were Barclays Capital Inc., BNY Mellon Capital Markets LLC and Mitsubishi UFJ Securities (USA) Inc.
Co-managers were J.P. Morgan Securities LLC, RBS Securities Inc., Scotia Capital (USA) Inc., SunTrust Robinson Humphrey Inc. and U.S. Bancorp Investments Inc.
Proceeds will be used to repay debt under a capital expenditure credit facility.
The electric and natural gas company is based in Bellevue, Wash.
| Issuer: | Puget Sound Energy, Inc.
|
| Issue: | Senior notes
|
| Amount: | $250 million
|
| Maturity: | Nov. 15, 2041
|
| Bookrunners: | Barclays Capital Inc., BNY Mellon Capital Markets LLC, Mitsubishi UFJ Securities (USA) Inc.
|
| Co-managers: | J.P. Morgan Securities LLC, RBS Securities Inc., Scotia Capital (USA) Inc., SunTrust Robinson Humphrey Inc., U.S. Bancorp Investments Inc.
|
| Coupon: | 4.434%
|
| Price: | Par
|
| Yield: | 4.434%
|
| Spread: | Treasuries plus 135 bps
|
| Call: | Make-whole at Treasuries plus 20 bps until May 15, 2041, after at par
|
| Trade date: | Nov. 14
|
| Settlement date: | Nov. 16
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
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