---
schema_version: "secwatch.filing_event.v1"
accession: "0000027879-24-000004"
form_type: "8-K"
ticker: null
cik: "0000027879"
company_name: "DELMARVA POWER & LIGHT CO /DE/"
filed_at: "2024-03-20T23:59:59+00:00"
generated_at: "2026-06-04T12:24:33.961587+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# ACE and DPL issue $425M in first mortgage bonds across five tranches

## Summary
- 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.

## SEC filing metadata
- accession: 0000027879-24-000004
- form_type: 8-K
- cik: 0000027879
- company_name: DELMARVA POWER & LIGHT CO /DE/
- filed_at: 2024-03-20T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/27879/000002787924000004/0000027879-24-000004-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/8192/000002787924000004/exc-20240320.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000027879-24-000004
- JSON: https://secwatch.observer/filing/0000027879-24-000004.json
- Plain text: https://secwatch.observer/filing/0000027879-24-000004.txt

## Key facts
- Debt Financings
  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
  source text: $100 million aggregate principal amount of its First Mortgage Bonds, 5.24% Series due March 20, 2034
  evidence_url: https://www.sec.gov/Archives/edgar/data/27879/000002787924000004/0000027879-24-000004-index.htm
- Debt Financings
  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
  source text: $75 million aggregate principal amount of its First Mortgage Bonds, 5.29% Series due August 28, 2034
  evidence_url: https://www.sec.gov/Archives/edgar/data/27879/000002787924000004/0000027879-24-000004-index.htm
- Debt Financings
  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
  source text: $100 million aggregate principal amount of its First Mortgage Bonds, 5.49% Series due August 28, 2039
  evidence_url: https://www.sec.gov/Archives/edgar/data/27879/000002787924000004/0000027879-24-000004-index.htm
- Debt Financings
  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
  source text: $75 million aggregate principal amount of its First Mortgage Bonds, 5.55% Series due March 20, 2054
  evidence_url: https://www.sec.gov/Archives/edgar/data/27879/000002787924000004/0000027879-24-000004-index.htm
- Material Agreements
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/27879/000002787924000004/0000027879-24-000004-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.