ComEd Announces $1.0 Billion Bond Sale
September 05 2017 - 1:19PM
Business Wire
ComEd demonstrates its commitment to diversity
by including five diverse financial institutions in its bond
offering
ComEd announced that is has closed on the sale of $1.0 billion
aggregate principal amount of its First Mortgage Bonds, comprised
of $350 million 10-year bonds and $650 million 30-year bonds
maturing on August 15, 2027 and August 15, 2047, respectively. The
10-year bonds have a coupon of 2.95% percent and the 30-year bonds
have a coupon of 3.75% percent. ComEd will use the net proceeds
from the sale of the bonds to refinance outstanding principal
amounts of long term debt, repay a portion of its outstanding
commercial paper obligations, and for general corporate
purposes.
Wells Fargo Securities LLC, U.S. Bancorp Investments Inc.,
Mizuho Securities USA LLC, and Scotia Capital (USA) Inc. led the
offering as active joint book-running managers. SMBC Nikko
Securities America Inc. and CIBC World Markets Corp. served as
passive joint book-running managers. Minority-owned The Williams
Capital Group L.P. and Loop Capital Markets LLC, along with KeyBanc
Capital Markets Inc., served as senior co-managers. Minority-owned
Blaylock Van LLC, Melvin Securities LLC and Samuel A. Ramirez &
Company Inc. served as co-managers for the offering. The selection
of minority-owned banks to co-manage the offering is a deliberate
investment in the communities that we serve.
An automatic shelf registration statement relating to the sale
of the bonds became effective upon filing with the Securities and
Exchange Commission on April 28, 2017. This press release does not
constitute an offer to sell or a solicitation of an offer to buy
the securities described herein, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities law of any such
jurisdiction. The offering of the bonds may only be made by
means of a prospectus and related prospectus supplement, copies of
which may be obtained at no cost by visiting EDGAR on the SEC’s
website at www.sec.gov or by calling Wells Fargo Securities, LLC at
1-800-645-3751, U.S. Bancorp Investments Inc. at 1-877-558-2607,
Mizuho Securities USA LLC at 1-866-271-7403 or Scotia Capital (USA)
Inc. at 1-800-372-3930.
Cautionary Statements Regarding Forward-Looking
Information
This Press Release contains certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995 that are subject to risks and uncertainties. The factors
that could cause actual results to differ materially from the
forward-looking statements made by ComEd include those discussed
herein as well as the items discussed in (1) ComEd’s 2016 Annual
Report on Form 10-K in (a) ITEM 1A. Risk Factors, (b) ITEM 7.
Management’s Discussion and Analysis of Financial Condition and
Results of Operations and (c) ITEM 8. Financial Statements and
Supplementary Data: Note 23; (2) ComEd’s Second Quarter 2017
Quarterly Report on Form 10-Q in (a) Part II, Other Information,
ITEM 1A. Risk Factors; (b) Part 1, Financial Information, ITEM 2.
Management’s Discussion and Analysis of Financial Condition and
Results of Operations and (c) Part I, Financial Information, ITEM
1. Financial Statements: Note 18; and (3) other factors discussed
in filings with the Securities and Exchange Commission by ComEd.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which apply only as of the date of this
Press Release. ComEd undertakes no obligation to publicly release
any revision to its forward-looking statements to reflect events or
circumstances after the date of this Press Release.
Commonwealth Edison Company (ComEd) is a unit of Chicago-based
Exelon Corporation (NYSE: EXC), the nation’s leading competitive
energy provider, with approximately 10 million customers. ComEd
provides service to approximately 3.9 million customers across
northern Illinois, or 70 percent of the state’s population. For
more information visit ComEd.com, and connect with the company on
Facebook, Twitter and YouTube.
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ComEd Media Relations(312) 394-3500ComEd.com/News
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