Baltimore Gas to sell $600 million 10-year notes talked at Treasuries plus 95 bps area

By Devika Patel and Cristal Cody

Knoxville, Tenn., June 7 – Baltimore Gas and Electric Co. plans to sell $600 million of notes due June 15, 2031, according to a 424B2 filed with the Securities and Exchange Commission and a market source.

The notes are being talked in the Treasuries plus 95 basis points area.

The notes feature a make-whole call until March 15, 2031 and then a par call.

Barclays, Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are the active bookrunners, with Morgan Stanley & Co. LLC also participating as a passive bookrunner. The senior co-managers are Loop Capital Markets LLC and Santander Investment Securities Inc.

Proceeds will be used to repay some commercial paper, to redeem $300 million of the company’s 3.5% notes due Nov. 15, 2021 and for general corporate purposes.

Baltimore-based Baltimore Gas and Electric is a subsidiary of Exelon Corp.

© 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.