New Issue: Southern California Edison sells $400 million 3.9% 30-year bonds at 83 bps spread

By Andrea Heisinger

New York, March 4 - Southern California Edison Co. sold $400 million of 3.9% 30-year first and refunding mortgage bonds (A1/A/A+) on Monday priced at Treasuries plus 83 basis points, according to an FWP filing with the Securities and Exchange Commission.

Pricing was at 99.403 to yield 3.934%.

The bonds will have a make-whole call at Treasuries plus 15 bps until Sept. 15, 2042 and a par call afterward.

Active bookrunners were J.P. Morgan Securities LLC, RBS Securities Inc., SunTrust Robinson Humphrey Inc. and U.S. Bancorp Investments Inc. Passive bookrunners were De La Rosa & Co. and Muriel Siebert & Co. Inc.

Proceeds will be used to repay commercial paper borrowings and for general corporate purposes.

The electric utility is based in Rosemead, Calif.

Issuer:	Southern California Edison Co.
Issue:	First and refunding mortgage bonds
Amount:	$400 million
Maturity:	March 15, 2043
Bookrunners:	J.P. Morgan Securities LLC, RBS Securities Inc., SunTrust Robinson Humphrey Inc., U.S. Bancorp Investments Inc. (active), De La Rosa & Co., Muriel Siebert & Co. Inc. (passive)
Co-managers:	PNC Capital Markets LLC, Blaylock Robert Van, LLC, Great Pacific Securities, Mischler Financial Group, Inc., SL Hare Capital, Inc.
Coupon:	3.9%
Price:	99.403
Yield:	3.934%
Spread:	Treasuries plus 83 bps
Call:	Make-whole at Treasuries plus 15 bps to Sept. 15, 2042, par call after
Trade date:	March 4
Settlement date:	March 7
Ratings:	Moody's: A1
	Standard & Poor's: A
	Fitch: A+

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