By Andrea Heisinger
New York, June 3 - Oklahoma Gas & Electric Co. priced $250 million of 5.85% 30-year senior unsecured bonds on Thursday at Treasuries plus 162.5 basis points, a source away from the deal said.
The notes (A2/BBB+/AA-) priced at 99.358 to yield 5.896%. They have a make-whole call at Treasuries plus 25 bps.
Mizuho Securities USA Inc., RBS Securities Inc. and UBS Investment Bank ran the books.
Co-managers were BOSC, Inc., KeyBanc Capital Markets Inc., Mitsubishi UFJ Securities, Scotia Capital and U.S. Bancorp Investments Inc.
Proceeds are being added to general funds and being used to fund an ongoing capital expenditure program or for working capital.
The electric utility is based in Oklahoma City.
| Issuer: | Oklahoma Gas & Electric Co.
|
| Issue: | Senior unsecured notes
|
| Amount: | $250 million
|
| Maturity: | June 1, 2040
|
| Bookrunners: | Mizuho Securities USA Inc., RBS Securities Inc., UBS Investment Bank
|
| Co-managers: | BOSC, Inc., KeyBanc Capital Markets Inc., Mitsubishi UFJ Securities, Scotia Capital, U.S. Bancorp Investments Inc.
|
| Coupon: | 5.85%
|
| Price: | 99.358
|
| Yield: | 5.896%
|
| Spread: | Treasuries plus 162.5 bps
|
| Call: | Make-whole at Treasuries plus 25 bps
|
| Trade date: | June 3
|
| Settlement date: | June 8
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: BBB+
|
| Fitch: AA-
|
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