Southern California Edison to repay term loan via add-on note issue

By Sarah Lizee

Olympia, Wash., Sept. 5 – Southern California Edison Co. plans to use the net proceeds from an add-on offering of 4% first and refunding mortgage bonds due 2047 to repay its term loan due July 2018, according to a 424B5 filing with the Securities and Exchange Commission.

The term loan has a variable interest rate based on Libor plus 65 basis points.

The company also plans to use the proceeds to repay its commercial paper borrowings and for general corporate purposes.

Southern California Edison is an electric utility company based in Rosemead, Calif.

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