New Issue: Washington Gas Light prices $300 million 3.65% 30-year notes at 150 bps spread

By Rebecca Melvin

New York, Sept. 10 – Washington Gas Light Co. priced $300 million of 3.65% 30-year notes at 99.494 to yield 3.678%, or a spread of 150 basis points over Treasuries, according to a 424B5 filed with the Securities and Exchange Commission.

The series L notes (A2/BBB+/A) will have a make-whole call feature and then a par call.

Proceeds will be used to fund general corporate purposes and the refunding of maturing long-term debt.

MUFG, TD Securities (USA) LLC, BB&T Capital Markets, a division of BB&T Securities, LLC, CIBC World Markets Corp., RBC Capital Markets, LLC, U.S. Bancorp Investments, Inc. and Williams Capital Group, LP are the agents.

Washington Gas is a Washington, D.C.-based natural gas utility.

Issuer:	Washington Gas Light Co.
Amount:	$300 million
Description:	Notes, series L
Maturity:	Sept. 15, 2049
Coupon:	3.65%
Price:	99.494
Yield:	3.678%
Spread:	150 bps over Treasuries
Make-whole call:	Treasuries plus 25 bps prior to March 15, 2049, then callable at par
Bookrunners:	MUFG, TD Securities (USA) LLC, BB&T Capital Markets, a division of BB&T Securities, LLC, CIBC World Markets Corp., RBC Capital Markets, LLC, U.S. Bancorp Investments, Inc. and Williams Capital Group, LP
Trade date:	Sept. 10
Settlement date:	Sept. 13
Expected ratings:	Moody’s: A2
	S&P: BBB+
	Fitch: A
Distribution:	SEC registered

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