ATLANTIC CITY ELECTRIC CO: debt financing — Atlantic City Electric issues $250M in first mortgage bonds across three series

ATLANTIC CITY ELECTRIC CO

Issued $100M of 5.28% bonds due 2035, $75M of 5.54% due 2040, and $75M of 5.81% due 2055.
Proceeds to repay existing indebtedness and for general corporate purposes; closing Nov 19, 2025.
Bonds sold in private placement under Section 4(a)(2) exemption from registration.
Issued under 1937 Mortgage and Deed of Trust with Bank of New York Mellon as trustee.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

ATLANTIC CITY ELECTRIC CO incurred loan of $100 million, $75 million, $75 million with certain institutional investors at 5.28%, 5.54%, 5.81% maturing March 26, 2035, November 19, 2040, November 19, 2055.

Instrument: loan
Principal: $100 million, $75 million, $75 million
Counterparty: certain institutional investors
Rate: 5.28%, 5.54%, 5.81%
Maturity: March 26, 2035, November 19, 2040, November 19, 2055
Event: incurrence

Exact text from the filing

On March 26, 2025, ACE entered into the ACE Purchase Agreement for the offer and sale of (i) $100 million aggregate principal amount of its First Mortgage Bonds, 5.28% Series due March 26, 2035, (ii) $75 million aggregate principal amount of its First Mortgage Bonds, 5.54% Series due November 19, 2040 (2040 Bonds) and (iii) $75 million aggregate principal amount of its First Mortgage Bonds, 5.81% Series due November 19, 2055 (2055 Bonds and, together with the 2040 Bonds, the ACE Bonds).

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Source: SEC EDGAR

accession 0000008192-25-000006

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