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Baltimore Gas & Electric to conduct offering of 30-year notes
By Devika Patel
Knoxville, Tenn., Aug. 21 – Baltimore Gas & Electric Co. will price dollar-denominated notes due 2047, according to a 424B2 filed with the Securities and Exchange Commission.
The notes feature a make-whole call until Feb. 15, 2047 and then a par call.
Credit Agricole CIB, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are the bookrunners.
Proceeds will be used to redeem $250 million of BGE Capital Trust II 6.2% deferrable interest subordinated debentures due Oct. 15, 2043, to repay commercial paper and for general corporate purposes.
Based in Baltimore, Baltimore Gas and Electric is a natural gas and electric utility distribution company.
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