Tampa Electric launches $250 million 10-year notes to yield Treasuries plus 83 bps

By Andrea Heisinger and Aleesia Forni

Columbus, Ohio, Sept. 19 - Tampa Electric Co. launched $250 million notes due 2022 at 83 basis points over Treasuries, according to a market source.

The notes (A3/BBB+/) were originally talked in the area of Treasuries plus 90 bps to 92 bps.

Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are the joint bookrunners.

Proceeds will be used to repay maturing long-term debt, to repay short-term debt and for general corporate purposes.

The company is a Tampa, Fla.-based subsidiary of TECO Energy, Inc., an energy-related holding company.

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