ComEd has raised $650 million in a two-part sale of bonds. The company sold $250 million of mortgage bonds, which carry a coupon rate of 1.95 percent and are due to mature on Sept. 1, 2016, and $350 million of mortgage bonds, maturing on Sept. 1, 2021, with a coupon rate of 3.40 percent. The joint book runners for the deal included BNP Paribas Securities, U.S. Bancorp Investments and Samuel A Ramirez & Co., while the co-managers were CIBC World Markets Corp. and PNC Capital Markets. The sale proceeds will be used to refinance maturing tax-exempt bonds and first mortgage bonds, and for general corporate purposes.
Click here for the release from PR Newswire.