ComEd Announces $1.2 Billion Bond Sale
June 21 2016 - 5:01PM
Business Wire
ComEd demonstrates its commitment to diversity
by including four diverse financial institutions in its bond
offering
ComEd announced that it has priced $1.2 billion aggregate
principal amount of its First Mortgage Bonds, comprised of $500
million 10-year bonds and $700 million 30-year bonds maturing on
June 15, 2026 and June 15, 2046, respectively. The 10-year bonds
have a coupon of 2.550 percent and the 30-year bonds have a coupon
of 3.650 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 our outstanding commercial paper
obligations and for general corporate purposes. The sale is
scheduled to close on June 27, 2016.
Citigroup Global Markets Inc., Mizuho Securities USA Inc. and
U.S. Bancorp Investments, Inc. led the offering as active joint
book-running managers. CIBC World Markets Corp., Credit Agricole
Securities (USA) Inc. and PNC Capital Markets, LLC served as
passive joint book-running managers and Santander Investment
Securities Inc. served as a senior co-manager. Minority-owned
Blaylock Beal Van, LLC, Great Pacific Securities, Loop Capital
Markets, LLC and disabled veteran-owned Drexel Hamilton, LLC served
as co-managers for the offering.
As a leader in capital infrastructure, ComEd has successfully
deployed an annual average of more than $1.7 billion in capital
expenditures across hundreds of projects. 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 May 23, 2014. The offering is being made by
means of a prospectus supplement and an accompanying prospectus.
Copies of the prospectus supplement and accompanying prospectus
relating to the offering may be obtained by calling Citigroup
Global Markets Inc. at 1-800-831-9146, Mizuho Securities USA Inc.
at 1-866-271-7403 or U.S. Bancorp Investments, Inc. at
1-877-558-2607.
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 2015 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 First Quarter 2016
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 7.8 million customers. ComEd
provides service to approximately 3.8 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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160621006569/en/
ComEd Media Relations(312) 394-3500ComEd.com/News
Exelon (NYSE:EXC)
Historical Stock Chart
From Mar 2024 to Apr 2024
Exelon (NYSE:EXC)
Historical Stock Chart
From Apr 2023 to Apr 2024