Atlantic City Electric announces plans to price first mortgage bonds

By Devika Patel

Knoxville, Tenn., March 3 – Atlantic City Electric Co. intends to offer first mortgage bonds, according to a 424B2 filing with the Securities and Exchange Commission.

The bonds feature a make-whole call and then a par call.

Mizuho Securities USA Inc., Scotia Capital (USA) Inc., CIBC World Markets Corp. and PNC Capital Markets LLC are the bookrunners.

KeyBanc Capital Markets Inc. and Siebert Williams Shank & Co. LLC are the senior co-managers, and Blaylock Van, LLC, Drexel Hamilton LLC and Great Pacific Securities are the co-managers.

Proceeds will be used to refinance at maturity $200 million of the company’s 4.35% first mortgage bonds due April 1, 2021 and short-term borrowings and for general corporate purposes.

The electric company is based in Newark, Del.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.