By Cristal Cody
Tupelo, Miss., Aug. 19 – Puget Sound Energy, Inc. sold $450 million of 3.25% 30-year senior notes on Monday at a spread of 120 basis points over Treasuries, according to an FWP filing with the Securities and Exchange Commission.
The notes (A2/A-/A) priced at 99.353 to yield 3.284%.
MUFG, Scotia Capital (USA) Inc. and U.S. Bancorp Investments Inc. were the bookrunners.
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, 2049
|
| Bookrunners: | MUFG, Scotia Capital (USA) Inc. and U.S. Bancorp Investments Inc.
|
| Co-managers: | CIBC World Markets Corp. and KeyBanc Capital Markets Inc.
|
| Coupon: | 3.25%
|
| Price: | 99.353
|
| Yield: | 3.284%
|
| Spread: | Treasuries plus 120 bps
|
| Call features: | Make-whole call at Treasuries plus 20 bps before March 15, 2049; thereafter at par
|
| Trade date: | Aug. 19
|
| Settlement date: | Aug. 30
|
| Ratings: | Moody’s: A2
|
| S&P: A-
|
| Fitch: A
|
| Distribution: | SEC registered
|
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