ComEd Announces $400 Million Bond Sale
February 23 2015 - 3:53PM
Business Wire
ComEd announced that it has priced $400 million of First
Mortgage Bonds maturing on March 1, 2045, with a coupon of 3.70
percent. ComEd will use the net proceeds from the sale of the bonds
to refinance at maturity our First Mortgage 4.70% Bonds, Series
101, due April 15, 2015, and to use the remainder to repay a
portion of our outstanding commercial paper obligations and for
general corporate purposes. The sale is scheduled to close on March
2.
BNP Paribas Securities Corp., RBS Securities Inc. and U.S.
Bancorp Investments, Inc. led the offering as active joint
book-running managers. Credit Agricole Securities (USA) Inc. and
SMBC Nikko Securities America, Inc. served as passive joint
book-running managers and KeyBanc Capital Markets Inc. served as a
senior co-manager. Minority-owned Great Pacific Securities and
Melvin Securities, LLC served as co-managers for the offering.
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 BNP Paribas
Securities Corp. at 1-800-854-5674, RBS Securities Inc. at
1-866-884-2071 and 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 2014 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 22 and (2) 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.
ComEd Media Relations(312) 394-3500ComEd.com/News
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