Delmarva Power & Light calls $78.4 million in exempt facilities bonds

By Devika Patel

Knoxville, Tenn., April 1 - Delmarva Power & Light Co. said it will use the proceeds from a $78.4 million offering of Delaware Economic Development Authority gas facilities refunding revenue bonds to redeem some of the authority's exempt facilities refunding revenue bonds.

Affected bonds include all $11.15 million of the series 2000A bonds, all $27.75 million of the series 2000B bonds, all $11.1205 million of the series 2001A bonds, all $4.5 million of the series 2001B bonds and all $15 million of the series 2002A bonds.

In 2008, Delmarva purchased all of these bonds and is the current holder. Accordingly, it will receive the proceeds from the redemption and intends to use these proceeds for general corporate purposes.

The electric company and subsidiary of Pepco Holdings, Inc. is based in Wilmington, Del.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.