DELMARVA POWER & LIGHT CO /DE/: debt financing — ACE and DPL issue $425M in first mortgage bonds across five tranches

DELMARVA POWER & LIGHT CO /DE/

ACE issued $250M aggregate: $75M 5.55% due 2054, $75M 5.29% due 2034, $100M 5.49% due 2039.
DPL issued $175M aggregate: $100M 5.24% due 2034, $75M 5.55% due 2054.
Proceeds from both issuances to repay existing debt and for general corporate purposes.
Bonds sold in private placement under Section 4(a)(2) exemption; closing occurred March 20, 2024.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.99

DELMARVA POWER & LIGHT CO /DE/ incurred senior notes of $100 million aggregate principal amount with The Bank of New York Mellon at 5.24% maturing March 20, 2034.

Instrument: senior notes
Principal: $100 million aggregate principal amount
Counterparty: The Bank of New York Mellon
Rate: 5.24%
Maturity: March 20, 2034
Event: incurrence

Exact text from the filing

$100 million aggregate principal amount of its First Mortgage Bonds, 5.24% Series due March 20, 2034

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.99

DELMARVA POWER & LIGHT CO /DE/ incurred senior notes of $75 million aggregate principal amount with The Bank of New York Mellon at 5.29% maturing August 28, 2034.

Instrument: senior notes
Principal: $75 million aggregate principal amount
Counterparty: The Bank of New York Mellon
Rate: 5.29%
Maturity: August 28, 2034
Event: incurrence

Exact text from the filing

$75 million aggregate principal amount of its First Mortgage Bonds, 5.29% Series due August 28, 2034

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.99

DELMARVA POWER & LIGHT CO /DE/ incurred senior notes of $100 million aggregate principal amount with The Bank of New York Mellon at 5.49% maturing August 28, 2039.

Instrument: senior notes
Principal: $100 million aggregate principal amount
Counterparty: The Bank of New York Mellon
Rate: 5.49%
Maturity: August 28, 2039
Event: incurrence

Exact text from the filing

$100 million aggregate principal amount of its First Mortgage Bonds, 5.49% Series due August 28, 2039

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.99

DELMARVA POWER & LIGHT CO /DE/ incurred senior notes of $75 million aggregate principal amount with The Bank of New York Mellon at 5.55% maturing March 20, 2054.

Instrument: senior notes
Principal: $75 million aggregate principal amount
Counterparty: The Bank of New York Mellon
Rate: 5.55%
Maturity: March 20, 2054
Event: incurrence

Exact text from the filing

$75 million aggregate principal amount of its First Mortgage Bonds, 5.55% Series due March 20, 2054

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

DELMARVA POWER & LIGHT CO /DE/ entered into Bond Purchase Agreement with certain institutional investors valued at Not disclosed (effective 2024-03-20).

Action: entry
Agreement: notes offering
Counterparty: certain institutional investors
Value: Not disclosed
Effective: 2024-03-20

Exact text from the filing

On March 20, 2024, Atlantic City Electric Company (ACE) and Delmarva Power & Light Company (DPL) each entered into a Bond Purchase Agreement (the ACE Purchase Agreement and DPL Purchase Agreement, respectively) with certain institutional investors.

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299 debt financings filed in the last 30 days. Browse all debt financings →

Source: SEC EDGAR

accession 0000027879-24-000004

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