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ComEd Announces $500 Million Bond Sale

ComEd announced it sold $500 million of First Mortgage Bonds maturing on August 1, 2020, with a coupon of 4%.



CHICAGO - ComEd announced it sold $500 million of First Mortgage Bonds maturing on August 1, 2020, with a coupon of 4%.  This represents the third lowest 10-year coupon ever in the utility sector, the lowest 10-year coupon in the current debt portfolio of parent company Exelon Corporation, and the lowest 10-year coupon for ComEd dating back to the mid-1950's.

Banc of America Securities, Deutsche Bank Securities, Loop Capital Markets, Scotia Capital and U.S. Bancorp Investments led the offering as joint book-running managers.  The senior co-manager for the deal was Ramirez & Co., Inc.  The sale is scheduled to close on August 2, 2010.  

ComEd's offering demonstrates its continuing support for diversity and inclusion.  The deal included minority-owned firms Loop Capital Markets, which was mandated as a joint book-running manager, and Ramirez & Co., Inc., which was mandated as a senior co-manager.

ComEd will use the net proceeds from the sale of the bonds to refinance maturing first mortgage bonds, to make a contribution to its pension, and fund other general corporate purposes. 

A registration statement relating to the bonds has been declared effective by the Securities and Exchange Commission.  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 from Banc of America Securities LLC, One Bryant Park, New York, NY 10036, Attention: High Grade Debt Capital Markets Transaction Management/Legal, 1-800-294-1322, Deutsche Bank Securities Inc., 60 Wall Street, New York, NY 10005, Attention: Debt Capital Markets - Syndicate Desk, 1-800-503-4611, Loop Capital Markets LLC, 200 West Jackson Boulevard, Suite 1600, Chicago, IL 60606, Attention: Corporate Finance, 1-888-294-8898, Scotia Capital (USA) Inc., 1 Liberty Plaza, 25th Floor, 165 Broadway, New York, NY 10006, Attention: Debt Capital Markets, 1-800-372-3930, or U.S. Bancorp Investments, Inc., 214 North Tryon Street, 26th Floor, Charlotte, NC 28202, Attention: Mark Ledford, 1-877-558-2607.  This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any of these securities.