New Issue: Southern California Edison sells $300 million one-year bonds at Libor plus 3 bps

By Aleesia Forni

Virginia Beach, Jan. 22 - Southern California Edison Co. priced $300 million of one-year floating-rate first and refunding mortgage bonds (A1/A/A+), series 2014A, at par to yield Libor plus 3 basis points, according to a market source and an FWP filed with the Securities and Exchange Commission.

The notes may not be redeemed prior to maturity.

Citigroup Global Markets Inc. and U.S. Bancorp Investments Inc. were the joint bookrunners.

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.
Amount:	$300 million
Description:	Floating-rate first and refunding mortgage bonds, series 2014A
Maturity:	Jan. 26, 2015
Bookrunners:	Citigroup Global Markets Inc., U.S. Bancorp Investments Inc.
Co-managers:	Apto Partners, LLC, Drexel Hamilton, LLC, Great Pacific Securities, SL Hare Capital, Inc., Toussaint Capital Partners, LLC
Coupon:	Libor plus 3 bps
Price:	Par
Yield:	Libor plus 3 bps
Trade date:	Jan. 22
Settlement date:	Jan. 27
Ratings:	Moody's: A1
	Standard & Poor's: A
	Fitch: A+
Distribution:	SEC registered

© 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.