Public Service Electric and Gas to offer medium-term notes due 2050

Chicago, Aug. 4 – Public Service Electric and Gas Co. intends to price an offering of secured medium-term notes, series N, due Aug. 1, 2050, according to 424B3 filings with the Securities and Exchange Commission.

The notes feature a make-whole call until Feb. 1, 2050 and then a par call.

The notes will price and settle in August.

CIBC World Markets Corp., J.P. Morgan Securities LLC, Loop Capital Markets LLC and MUFG are the underwriters for the offering.

Proceeds will be used to repay at maturity the company’s $250 million 3.5% secured medium-term notes, series G. Remaining proceeds will be used for general corporate purposes.

The Newark, N.J.-based company transmits electricity in New Jersey and is a subsidiary of PSE&G, a Newark-based utility.

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