New Issue: Baltimore Gas prices $300 million 4.25% 30-year notes at Treasuries plus 112.5 bps

By Devika Patel

Knoxville, Tenn., Sept. 17 – Baltimore Gas and Electric Co. priced $300 million of 4.25% 30-year notes (A3/A-/A-) on Monday, according to an FWP filed with the Securities and Exchange Commission.

The notes priced at 99.916 to yield 4.255%, or Treasuries plus 112.5 basis points.

BNP Paribas Securities Corp., Credit Agricole CIB, Credit Suisse Securities (USA) LLC, SMBC Nikko Securities America, Inc. and TD Securities (USA) LLC are the bookrunners.

Proceeds will be used to repay commercial paper obligations and for general corporate purposes.

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

Issuer:	Baltimore Gas and Electric Co.
Amount:	$300 million
Description:	Notes
Maturity:	Sept. 15, 2048
Bookrunners:	BNP Paribas Securities Corp., Credit Agricole CIB, Credit Suisse Securities (USA) LLC, SMBC Nikko Securities America, Inc. and TD Securities (USA) LLC
Senior co-manager:	BNY Mellon Capital Markets LLC
Co-managers:	Apto Partners, LLC and R. Seelaus & Co., Inc.
Coupon:	4.25%
Price:	99.916
Yield:	4.255%
Spread:	Treasuries plus 112.5 bps
Call feature:	Make-whole call at Treasuries plus 20 bps until March 15, 2048 and then a par call
Trade date:	Sept. 17
Settlement date:	Sept. 20
Ratings:	Moody’s: A3
	S&P: A-
	Fitch: A-
Distribution:	SEC registered

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