Delmarva talks $200 million mortgage bonds due 2045 for Monday pricing

By Aleesia Forni

Virginia Beach, May 4 – Delmarva Power & Light Co. is planning to price $200 million of first mortgage bonds (A2/A/A) due May 15, 2045 on Monday, according to a market source and a 424B2 filed with the Securities and Exchange Commission.

The notes are talked in the 130 basis points area over Treasuries.

BofA Merrill Lynch, J.P. Morgan Securities LLC and Scotia Capital (USA) Inc. are the joint bookrunners.

Loop Capital Markets LLC and Ramirez & Co. Inc. are the co-managers.

Proceeds will be used to repay debt, to repay outstanding commercial paper and for general corporate purposes.

Delmarva is an electric and natural gas utility based in Wilmington, Del.

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