PECO Announces Pricing of $300 Million First and Refunding Mortgage Bonds

PHILADELPHIA--()--PECO today announced that it has priced $300 million of first and refunding mortgage bonds with an interest rate of 4.15 percent due Oct. 1, 2044. The net proceeds from the sale of the bonds will be used to pay, at maturity, $250 million in aggregate principal of PECO’s 5 percent first and refunding mortgage bonds due Oct. 1, 2014 and for other general corporate purposes. The offering, priced on Sept. 8, is scheduled to close on Sept. 15, 2014.

Mitsubishi UFJ Securities (USA), Inc., Mizuho Securities USA Inc. and RBS Securities Inc. are leading the offering as active joint book-running managers. BNY Mellon Capital Markets, LLC and TD Securities (USA) LLC. are serving as passive joint book-running managers. PNC Capital Markets LLC is serving as senior co-manager for the offering, and CastleOak Securities, L.P. and Mischler Financial Group, Inc. 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 Mitsubishi UFJ Securities (USA), Inc. at 1-877- 649-6848, Mizuho Securities USA Inc. at 1-866-271-7403 and RBS Securities Inc. at 1-866-884-2071. 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 2013 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 19; (2) PECO’s Quarterly Reports 2013 on Form 10-Q: for the quarters ended March 31, 2014 and June 30, 2014 Part I, Financial Information, ITEM 1. Financial Statements: Note 15 and 18, respectively 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 Current Report. 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 500,000 natural gas customers in southeastern Pennsylvania and employs about 2,400 people in the region. PECO delivered 85.7 billion cubic feet of natural gas and 37.8 billion kilowatt-hours of electricity in 2013. 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. For more information visit PECO.com, and connect with the company on Facebook and Twitter.

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

Contacts

Exelon Investor Relations
Francis Idehen, 312-394-3967
francis.idehen@exeloncorp.com
or
PECO Communications
Cathy Engel Menendez, 215-841-5555
catherine.engel@peco-energy.com

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