New Issue: Rochester Gas prices $300 million 3.1% 10-year mortgage bonds at 90 bps spread

By Cristal Cody

Tupelo, Miss., May 17 – Rochester Gas & Electric Corp. sold $300 million of 3.1% 10-year first mortgage bonds (A1/A-/A) on Wednesday at a spread of 90 basis points over Treasuries, according to a market source.

Credit Agricole CIB, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Santander Investment Securities Inc. and TD Securities (USA) LLC were the bookrunners.

Rochester Gas & Electric is a Rochester, N.Y.-based gas and electric provider.

Issuer:	Rochester Gas & Electric Corp.
Amount:	$300 million
Description:	First mortgage bonds
Maturity:	June 1, 2027
Bookrunners:	Credit Agricole CIB, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Santander Investment Securities Inc. and TD Securities (USA) LLC
Coupon:	3.1%
Spread:	Treasuries plus 90 bps
Trade date:	May 17
Ratings:	Moody’s: A1
	S&P: A-
	Fitch: A
Distribution:	SEC registered

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