By Devika Patel
Knoxville, Tenn., June 9 – Atlantic City Electric Co. and Delmarva Power & Light Co. priced and completed a private placement of $200 million first mortgage bonds on June 9, according to an 8-K filed with the Securities and Exchange Commission.
Mizuho Securities USA LLC and Scotia Capital (USA) Inc. were the agents.
The bonds were sold in two tranches as follows:
• Atlantic City Electric sold $100 million of 3.24% bonds due June 9, 2050; and
• Delmarva Power sold $100 million of 2.53% bonds due May 21, 2049.
Atlantic City Electric is an electric company based in Newark, Del. Delmarva is an electric and natural gas utility based in Wilmington, Del.
| Issuer: | Atlantic City Electric Co. and Delmarva Power & Light Co.
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| Issue: | First mortgage bonds
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| Amount: | $200 million
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| Agents: | Mizuho Securities USA LLC and Scotia Capital (USA) Inc.
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| Pricing date: | June 9
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| Settlement date: | June 9
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| Distribution: | Private placement
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| Atlantic City Electric notes
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| Amount: | $100 million
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| Maturity: | June 9, 2050
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| Coupon: | 3.24%
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|
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| Delmarva Power notes
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| Amount: | $100 million
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| Maturity: | June 9, 2030
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| Coupon: | 2.53%
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