--- schema_version: "secwatch.filing_event.v1" accession: "0000079732-23-000012" form_type: "8-K" ticker: null cik: "0000027879" company_name: "DELMARVA POWER & LIGHT CO /DE/" filed_at: "2023-03-15T23:59:59+00:00" generated_at: "2026-06-18T02:33:21.217239+00:00" event_type: "debt" sentiment: "neutral" materiality_score: 0.5 calibrated_materiality_score: 0.5 confidence: "high" source: SEC EDGAR --- # ACE, DPL and Pepco issue $450M in first mortgage bonds at rates 5.30%-5.57% ## Summary - ACE issued $75M of 5.57% Series due 2053; DPL issued $125M initial bonds at 5.30% (2033) and 5.57% (2053). - Pepco issued $250M initial bonds at 5.30% (2033), 5.40% (2038), and 5.57% (2053). - DPL also agreed to issue additional $525M bonds (5.45%-5.72%) with closings in Nov. 2023. - Pepco also agreed to issue $100M of 5.35% Series due 2033 with closing in Sept. 2023. - Proceeds from all bonds will repay existing debt and for general corporate purposes. ## SEC filing metadata - accession: 0000079732-23-000012 - form_type: 8-K - cik: 0000027879 - company_name: DELMARVA POWER & LIGHT CO /DE/ - filed_at: 2023-03-15T23:59:59+00:00 - event_type: debt - sentiment: neutral - materiality_score: 0.5 - calibrated_materiality_score: 0.5 - confidence: high - sec_items: 1.01, 2.03, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/27879/000007973223000012/0000079732-23-000012-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/8192/000007973223000012/exc-20230315.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0000079732-23-000012 - JSON: https://secwatch.observer/filing/0000079732-23-000012.json - Plain text: https://secwatch.observer/filing/0000079732-23-000012.txt ## Key facts - Debt Financings DELMARVA POWER & LIGHT CO /DE/ incurred senior notes of $340 million aggregate principal amount with institutional investors at 5.45% maturing November 8, 2033. - Instrument: senior notes - Principal: $340 million aggregate principal amount - Counterparty: institutional investors - Rate: 5.45% - Maturity: November 8, 2033 - Event: incurrence source text: (ii) $340 million aggregate principal amount of its First Mortgage Bonds, 5.45% Series due November 8, 2033 (the Additional 2033 DPL Bonds) evidence_url: https://www.sec.gov/Archives/edgar/data/27879/000007973223000012/0000079732-23-000012-index.htm - Debt Financings DELMARVA POWER & LIGHT CO /DE/ incurred senior notes of $100 million aggregate principal amount with institutional investors at 5.35% maturing September 13, 2033. - Instrument: senior notes - Principal: $100 million aggregate principal amount - Counterparty: institutional investors - Rate: 5.35% - Maturity: September 13, 2033 - Event: incurrence source text: (ii) $100 million aggregate principal amount of its First Mortgage Bonds, 5.35% Series due September 13, 2033 (the Additional 2033 Pepco Bonds) evidence_url: https://www.sec.gov/Archives/edgar/data/27879/000007973223000012/0000079732-23-000012-index.htm - Debt Financings DELMARVA POWER & LIGHT CO /DE/ incurred senior notes of $125 million aggregate principal amount with institutional investors at 5.57% maturing March 15, 2053. - Instrument: senior notes - Principal: $125 million aggregate principal amount - Counterparty: institutional investors - Rate: 5.57% - Maturity: March 15, 2053 - Event: incurrence source text: (iv) $125 million aggregate principal amount of its First Mortgage Bonds, 5.57% Series due March 15, 2053 (the Initial 2053 Pepco Bonds, and together with the Initial 2033 Pepco Bonds and the Initial 2038 Pepco Bonds, the Initial Pepco Bonds). evidence_url: https://www.sec.gov/Archives/edgar/data/27879/000007973223000012/0000079732-23-000012-index.htm - Debt Financings DELMARVA POWER & LIGHT CO /DE/ incurred senior notes of $65 million aggregate principal amount with institutional investors at 5.57% maturing March 15, 2053. - Instrument: senior notes - Principal: $65 million aggregate principal amount - Counterparty: institutional investors - Rate: 5.57% - Maturity: March 15, 2053 - Event: incurrence source text: (iv) $65 million aggregate principal amount of its First Mortgage Bonds, 5.57% Series due March 15, 2053 (the Initial 2053 DPL Bonds, and together with the Initial 2033 DPL Bonds, the Initial DPL Bonds) evidence_url: https://www.sec.gov/Archives/edgar/data/27879/000007973223000012/0000079732-23-000012-index.htm - Debt Financings DELMARVA POWER & LIGHT CO /DE/ incurred senior notes of $110 million aggregate principal amount with institutional investors at 5.72% maturing November 8, 2053. - Instrument: senior notes - Principal: $110 million aggregate principal amount - Counterparty: institutional investors - Rate: 5.72% - Maturity: November 8, 2053 - Event: incurrence source text: (v) $110 million aggregate principal amount of its First Mortgage Bonds, 5.72% Series due November 8, 2053 (the Additional 2053 DPL Bonds, and collectively with the Additional 2033 DPL and Additional 2038 DPL Bonds, the Additional DPL Bonds). evidence_url: https://www.sec.gov/Archives/edgar/data/27879/000007973223000012/0000079732-23-000012-index.htm - Debt Financings DELMARVA POWER & LIGHT CO /DE/ incurred senior notes of $75 million aggregate principal amount with institutional investors at 5.57% maturing March 15, 2053. - Instrument: senior notes - Principal: $75 million aggregate principal amount - Counterparty: institutional investors - Rate: 5.57% - Maturity: March 15, 2053 - Event: incurrence source text: On March 15, 2023, ACE entered into the ACE Purchase Agreement for the offer and sale of $75 million aggregate principal amount of its First Mortgage Bonds, 5.57% Series due March 15, 2053 (the ACE Bonds). evidence_url: https://www.sec.gov/Archives/edgar/data/27879/000007973223000012/0000079732-23-000012-index.htm - Debt Financings DELMARVA POWER & LIGHT CO /DE/ incurred senior notes of $75 million aggregate principal amount with institutional investors at 5.55% maturing November 8, 2038. - Instrument: senior notes - Principal: $75 million aggregate principal amount - Counterparty: institutional investors - Rate: 5.55% - Maturity: November 8, 2038 - Event: incurrence source text: (iii) $75 million aggregate principal amount of its First Mortgage Bonds, 5.55% Series due November 8, 2038 (the Additional 2038 DPL Bonds) evidence_url: https://www.sec.gov/Archives/edgar/data/27879/000007973223000012/0000079732-23-000012-index.htm - Debt Financings DELMARVA POWER & LIGHT CO /DE/ incurred senior notes of $40 million aggregate principal amount with institutional investors at 5.40% maturing March 15, 2038. - Instrument: senior notes - Principal: $40 million aggregate principal amount - Counterparty: institutional investors - Rate: 5.40% - Maturity: March 15, 2038 - Event: incurrence source text: (iii) $40 million aggregate principal amount of its First Mortgage Bonds, 5.40% Series due March 15, 2038 (the Initial 2038 Pepco Bonds) evidence_url: https://www.sec.gov/Archives/edgar/data/27879/000007973223000012/0000079732-23-000012-index.htm - Debt Financings DELMARVA POWER & LIGHT CO /DE/ incurred senior notes of $85 million aggregate principal amount with institutional investors at 5.30% maturing March 15, 2033. - Instrument: senior notes - Principal: $85 million aggregate principal amount - Counterparty: institutional investors - Rate: 5.30% - Maturity: March 15, 2033 - Event: incurrence source text: On March 15, 2023, Pepco entered into the Pepco Purchase Agreement for the offer and sale of (i) $85 million aggregate principal amount of its First Mortgage Bonds, 5.30% Series due March 15, 2033 (the Initial 2033 Pepco Bonds) evidence_url: https://www.sec.gov/Archives/edgar/data/27879/000007973223000012/0000079732-23-000012-index.htm - Debt Financings DELMARVA POWER & LIGHT CO /DE/ incurred senior notes of $60 million aggregate principal amount with institutional investors at 5.30% maturing March 15, 2033. - Instrument: senior notes - Principal: $60 million aggregate principal amount - Counterparty: institutional investors - Rate: 5.30% - Maturity: March 15, 2033 - Event: incurrence source text: On March 15, 2023, DPL entered into the DPL Purchase Agreement for the offer and sale of (i) $60 million aggregate principal amount of its First Mortgage Bonds, 5.30% Series due March 15, 2033 (the Initial 2033 DPL Bonds) evidence_url: https://www.sec.gov/Archives/edgar/data/27879/000007973223000012/0000079732-23-000012-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.