ComEd Announces $350 Million Bond Sale

Aug 13, 2013, 09:00 ET from ComEd

CHICAGO, Aug. 13, 2013 /PRNewswire/ -- ComEd today announced that it has priced $350 million of First Mortgage Bonds, maturing on August 15, 2043, with a coupon of 4.60 percent.  ComEd will use the net proceeds from the sale of the bonds to repay a portion of its outstanding commercial paper obligations and for other general corporate purposes.  The sale is scheduled to close on Aug. 19. 

Mitsubishi UFJ Securities (USA), Inc., Morgan Stanley & Co. LLC and UBS Securities LLC led the offering as active joint book-running managers.  Credit Agricole Securities (USA) Inc. and U.S. Banccorp Investments, Inc. served as passive joint book-running managers and TD Securities (USA) LLC served as senior co-manager.  George K. Baum & Company and minority-owned Samuel A. Ramirez & Company, Inc. served as co-managers for the offering.  

An automatic shelf registration statement relating to the sale of the bonds became effective upon filing with the Securities and Exchange Commission on May 29, 2012.  The offering is being made by means of a prospectus supplement and an accompanying prospectus.  Copies of the prospectus supplement and accompanying prospectus relating to the offering may be obtained by calling Mitsubishi UFJ Securities (USA), Inc. at 1-877-649-6848, Morgan Stanley & Co. LLC at 1-866-718-1649 and UBS Securities LLC at 1-877-827-6444, ext. 5613884.

Cautionary Statements Regarding Forward-Looking Information
This Press Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. The factors that could cause actual results to differ materially from the forward-looking statements made by ComEd include those discussed herein as well as the items discussed in (1) ComEd's 2012 Annual Report on Form 10-K in (a) ITEM 1A. Risk Factors, (b) ITEM 7. Management's Discussion and Analysis of Financial Condition and Results of Operations and (c) ITEM 8. Financial Statements and Supplementary Data: Note 19; (2) ComEd's Second Quarter 2013 Quarterly Report on Form 10-Q in (a) Part II, Other Information, ITEM 1A. Risk Factors; (b) Part 1, Financial Information, ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations and (c) Part I, Financial Information, ITEM 1. Financial Statements: Note 18and (3) other factors discussed in filings with the Securities and Exchange Commission by ComEd.  Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this Current Report.  ComEd undertakes no obligation to publicly release any revision to its forward-looking statements to reflect events or circumstances after the date of this Press Release.

Commonwealth Edison Company (ComEd) is a unit of Chicago-based Exelon Corporation (NYSE: EXC), the nation's leading competitive energy provider, with approximately 6.6 million customers. ComEd provides service to approximately 3.8 million customers across northern Illinois, or 70 percent of the state's population.