COMMONWEALTH EDISON Co: debt financing — ComEd issues $800M in first mortgage bonds at 5.300% and 5.650%

COMMONWEALTH EDISON Co

$400M Series 136 at 5.300% due June 1, 2034; $400M Series 137 at 5.650% due June 1, 2054.
Proceeds to redeem $250M of 3.10% Series 117 bonds, repay $400M term loan, commercial paper, and general corporate purposes.
Bonds secured by first mortgage on ComEd's utility plant; interest payable semi-annually starting Dec 1, 2024.
Underwriters include Goldman Sachs, U.S. Bancorp, Wells Fargo; Mizuho and SMBC affiliates are lenders in term loan being repaid.

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

COMMONWEALTH EDISON Co incurred senior notes of $400 million aggregate principal amount of its First Mortgage 5.300% Bonds, Series 136, due June 1, 2034 with Goldman Sachs & Co. LLC, U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC, as representatives of the several underwriters at 5.300% per annum maturing June 1, 2034.

Instrument: senior notes
Principal: $400 million aggregate principal amount of its First Mortgage 5.300% Bonds, Series 136, due June 1, 2034
Counterparty: Goldman Sachs & Co. LLC, U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC, as representatives of the several underwriters
Rate: 5.300% per annum
Maturity: June 1, 2034
Event: incurrence

Exact text from the filing

On May 13, 2024, ComEd issued $400 million aggregate principal amount of its First Mortgage 5.300% Bonds, Series 136, due June 1, 2034

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 1.0

COMMONWEALTH EDISON Co incurred senior notes of $400 million aggregate principal amount of its First Mortgage 5.300% Bonds, Series 136, due June 1, 2034, and $400 milli with Goldman Sachs & Co. LLC, U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC, as representatives of the several underwriters at 5.300% per annum for Series 136 Bonds, 5.650% per annum for Series 137 Bonds maturing Series 136: June 1, 2034; Series 137: June 1, 2054.

Instrument: senior notes
Principal: $400 million aggregate principal amount of its First Mortgage 5.300% Bonds, Series 136, due June 1, 2034, and $400 milli
Counterparty: Goldman Sachs & Co. LLC, U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC, as representatives of the several underwriters
Rate: 5.300% per annum for Series 136 Bonds, 5.650% per annum for Series 137 Bonds
Maturity: Series 136: June 1, 2034; Series 137: June 1, 2054
Event: incurrence

Exact text from the filing

On May 13, 2024, ComEd issued $400 million aggregate principal amount of its First Mortgage 5.300% Bonds, Series 136, due June 1, 2034, and $400 million aggregate principal amount of its First Mortgage 5.650% Bonds, Series 137, due June 1, 2054.

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Source: SEC EDGAR

accession 0000022606-24-000009

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