PECO ENERGY CO: debt financing — PECO issues $575M 4.900% bonds due 2033; proceeds to refinance debt

PECO ENERGY CO

Issued $575M First and Refunding Mortgage Bonds, 4.900% Series due June 15, 2033, under supplemental indenture.
Interest rate 4.900% per annum, payable semi-annually on June 15 and December 15 starting December 15, 2023.
Net proceeds used to refinance $50M term loan maturing June 2023, commercial paper, and general corporate purposes.
Underwriters include BofA Securities, PNC Capital Markets, RBC Capital Markets, SMBC Nikko Securities America.
Bonds redeemable at PECO's option as per supplemental indenture terms.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

PECO ENERGY CO incurred senior notes of $575 million aggregate principal amount with BofA Securities, Inc., PNC Capital Markets LLC, RBC Capital Markets, LLC and SMBC Nikko Securities America, Inc., as representatives of the several underwriters at 4.900% per annum maturing June 15, 2033.

Instrument: senior notes
Principal: $575 million aggregate principal amount
Counterparty: BofA Securities, Inc., PNC Capital Markets LLC, RBC Capital Markets, LLC and SMBC Nikko Securities America, Inc., as representatives of the several underwriters
Rate: 4.900% per annum
Maturity: June 15, 2033
Event: incurrence

Exact text from the filing

On June 23, 2023, PECO issued $575 million aggregate principal amount of its First and Refunding Mortgage Bonds, 4.900% Series due June 15, 2033 (the Bonds).

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Source: SEC EDGAR

accession 0000078100-23-000005

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