By Andrea Heisinger
New York, Oct. 6 - Southern California Edison Co. sold $150 million of three-year floating-rate first mortgage bonds, series 2011D, on Thursday at par to yield Libor plus 45 basis points, according to an FWP filing with the Securities and Exchange Commission.
The notes (A1/A/A+) are non-callable.
Bank of America Merrill Lynch and Citigroup Global Markets Inc. were the active bookrunners. CastleOak Securities LP assisted on the sale.
Proceeds will be used to finance fuel inventories.
The electric utility is based in Rosemead, Calif.
| Issuer: | Southern California Edison Co.
|
| Issue: | Floating-rate first mortgage bonds, series 2011D
|
| Amount: | $150 million
|
| Maturity: | Sept. 15, 2014
|
| Bookrunners: | Bank of America Merrill Lynch, Citigroup Global Markets Inc. (active) CastleOak Securities LP
|
| Coupon: | Libor plus 45 bps
|
| Price: | Par
|
| Yield: | Libor plus 45 bps
|
| Call: | Non-callable
|
| Trade date: | Oct. 6
|
| Settlement date: | Oct. 12
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A
|
| Fitch: A+
|
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