PECO Announces Offering of $350 Million First and Refunding Mortgage Bonds
September 28 2015 - 4:14PM
Business Wire
PECO today announced that it has priced $350 million of first
and refunding mortgage bonds with an interest rate of 3.150 percent
due Oct. 15, 2025. The net proceeds from the sale of the bonds will
be used for general corporate purposes. The offering is scheduled
to close on Oct. 5, 2015.
Credit Suisse Securities (USA) LLC, Mitsubishi UFJ Securities
(USA), Inc., and Scotia Capital (USA) Inc. are leading the offering
as active joint book-running managers. Morgan Stanley & Co. LLC
and Mizuho Securities USA Inc. are serving as passive joint
book-running managers. PNC Capital Markets LLC is serving as senior
co-manager for the offering, and Drexel Hamilton, LLC and The
Williams Capital Group, L.P. are serving 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 Credit Suisse
Securities (USA) LLC at 1-800-221-1037, Mitsubishi UFJ Securities
(USA), Inc. at 1-877- 649-6848, and Scotia Capital (USA) Inc. at
1-800-372-3930. This announcement does not constitute an offer to
sell, or the solicitation of an offer to buy, any of these
securities.
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 PECO include those discussed
herein as well as the items discussed in (1) PECO’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; (2) PECO’s Second Quarter 2015
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 Operation and (c) Part I, Financial Information, ITEM 1.
Financial Statements: Note 19; and (3) other factors discussed in
filings with the Securities and Exchange Commission by PECO.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which apply only as of the date of this
Press Release. PECO 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.
Based in Philadelphia, PECO is an electric and natural gas
utility subsidiary of Exelon Corporation (NYSE: EXC). PECO serves
1.6 million electric and more than 506,000 natural gas customers in
southeastern Pennsylvania and employs about 2,400 people in the
region. PECO delivered 89.9 billion cubic feet of natural gas and
37.5 billion kilowatt-hours of electricity in 2014. Founded in
1881, PECO is one of the Greater Philadelphia Region's most active
corporate citizens, providing leadership, volunteer and financial
support to numerous arts and culture, education, environmental,
economic development and community programs and organizations.
If you are a member of the media and would like to receive
PECO news releases via e-mail please send your e-mail address
to PECO.Communication@exeloncorp.com
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150928006584/en/
Exelon Investor RelationsFrancis Idehen,
312-394-3967francis.idehen@exeloncorp.comorPECO CommunicationsBen
Armstrong, 215-841-5555benjamin.armstrong@exeloncorp.com
Exelon (NYSE:EXC)
Historical Stock Chart
From Aug 2024 to Sep 2024
Exelon (NYSE:EXC)
Historical Stock Chart
From Sep 2023 to Sep 2024