Washington Gas Light to price add-on series L notes due 2049

By Marisa Wong

Los Angeles, Dec. 7 – Washington Gas Light Co. plans to price additional 3.65% notes, series L, due Sept. 15, 2049, according to a 424B5 filing with the Securities and Exchange Commission.

The company originally issued $300 million of series L notes at 99.494 to yield 3.678% on Sept. 13, 2019, as previously reported.

Truist Securities, Inc. and Wells Fargo Securities, LLC are the agents for the tap issue.

The notes have a make-whole call at Treasuries plus 25 basis points at any time prior to March 15, 2049 and a par call after that.

Proceeds from the add-on notes will be used for general corporate purposes, including the retirement of notes outstanding under the company’s commercial paper program. As of Dec. 4, there was $365 million outstanding under the commercial paper program, with a weighted average interest rate of 0.29% and a weighted average maturity of 28 days.

The natural gas utility is based in Washington, D.C.

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