Southern California Edison offers first and refunding mortgage bonds due December 2022

By Rebecca Melvin

Concord, N.H., Dec. 1 – Southern California Edison Co. intends to price an offering of floating-rate first and refunding mortgage bonds, series 2021L, due in December 2022, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be based on SOFR plus a spread.

The floaters are callable at par plus a make-whole premium.

Loop Capital Markets LLC, Ramirez & Co. Inc., and Wells Fargo Securities LLC are the bookrunners.

Proceeds will be used to partially repay the company’s floating-rate first mortgage bonds, series 2020D, due 2021, to repay commercial paper borrowings and for general corporate purposes.

Southern California Edison is a subsidiary of Edison International, a Rosemead, Calif., energy company.

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