Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for Southern California Edison Co. > News item |
Southern California Edison to price mortgage bonds due 2027, 2034
By Mary Katherine Stinson
Lexington, Ky., Jan. 8 – Southern California Edison Co. plans to price first and refunding mortgage bonds in two series, including series 2024A due 2027 and series 2024B due 2034, according to a 424B2 filing with the Securities and Exchange Commission.
The bonds feature a make-whole call followed by a par call option.
MUFG Securities Americas Inc., SMBC Nikko Securities America, Inc. and Truist Securities, Inc. are joint bookrunning managers for the offering. BNP Paribas Securities Corp., BNY Mellon Capital Markets, LLC and PNC Capital Markets LLC are also listed as joint bookrunning managers.
Bank of New York Mellon Trust Co., NA and Reginald Brewer are the trustees.
The issuer is using in-house counsel. Cleary Gottlieb Steen & Hamilton LLP is counsel for the underwriters.
Proceeds from the bonds will be used to fund the payment of wildfire claims above the amount of expected insurance proceeds, to repay commercial paper borrowings and for general corporate purposes.
The current weighted average interest rate for the company’s commercial paper is 5.8%.
Southern California Edison, a subsidiary of Edison International, is an electric utility based in Rosemead, Calif.
© 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.