POTOMAC ELECTRIC POWER CO: debt financing — Pepco issues $675M in First Mortgage Bonds at 5.200% and 5.500% to refinance maturing debt

POTOMAC ELECTRIC POWER CO

Issued $375M 5.200% Series due 2034 and $300M 5.500% Series due 2054 on March 4, 2024.
Proceeds to refinance $400M of 3.60% Series due March 2024, commercial paper, and general corporate purposes.
Bonds issued under 1936 Mortgage and Deed of Trust; Pepco Supplemental Indenture filed as Exhibit 4.3.
Interest payable semi-annually March 15 and Sept 15, starting Sept 15, 2024.

item 1.01 item 2.03 item 9.01

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

POTOMAC ELECTRIC POWER CO incurred senior notes of $300 million at 5.500% per annum maturing March 15, 2054.

Instrument: senior notes
Principal: $300 million
Rate: 5.500% per annum
Maturity: March 15, 2054
Event: incurrence

Exact text from the filing

(ii) $300 million aggregate principal amount of Pepco’s First Mortgage Bonds 5.500% Series due March 15, 2054 (the “2054 Bonds,” and collectively with the 2034 Bonds, the “Bonds”).

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

POTOMAC ELECTRIC POWER CO incurred senior notes of $375 million at 5.200% per annum maturing March 15, 2034.

Instrument: senior notes
Principal: $375 million
Rate: 5.200% per annum
Maturity: March 15, 2034
Event: incurrence

Exact text from the filing

On March 4, 2024, Potomac Electric Power Company (Pepco) issued and sold (i) $375 million aggregate principal amount of Pepco’s First Mortgage Bonds, 5.200% Series due March 15, 2034 (the “2034 Bonds”)

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

POTOMAC ELECTRIC POWER CO entered into First Mortgage Bonds valued at $300 million aggregate principal amount (effective 2024-03-04).

Action: entry
Agreement: notes offering
Value: $300 million aggregate principal amount
Effective: 2024-03-04

Exact text from the filing

On March 4, 2024, Potomac Electric Power Company (Pepco) issued and sold (i) $375 million aggregate principal amount of Pepco’s First Mortgage Bonds, 5.200% Series due March 15, 2034 (the “2034 Bonds”)

View on SEC.gov

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

POTOMAC ELECTRIC POWER CO entered into First Mortgage Bonds valued at $300 million aggregate principal amount (effective 2024-03-04).

Action: entry
Agreement: notes offering
Value: $300 million aggregate principal amount
Effective: 2024-03-04

Exact text from the filing

and (ii) $300 million aggregate principal amount of Pepco’s First Mortgage Bonds 5.500% Series due March 15, 2054 (the “2054 Bonds,” and collectively with the 2034 Bonds, the “Bonds”)

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Source: SEC EDGAR

accession 0000079732-24-000003

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