Exelon closes $1B offering of 6.500% junior subordinated notes due 2055

EXELON CORP

Closed public offering of $1,000,000,000 aggregate principal of 6.500% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2055.
Net proceeds of approximately $990 million after underwriting discounts; estimated offering expenses $2.2 million.
Notes bear 6.500% interest from Feb 19, 2025 to March 15, 2035; then reset at 5-year Treasury plus 1.975%.
Underwriters: Barclays, Citigroup, Goldman Sachs, J.P. Morgan, Morgan Stanley.
Exelon may defer interest payments for up to 20 consecutive semi-annual periods at its option.

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