By Marisa Wong and Cristal Cody
Los Angeles, Sept. 7 – Oncor Electric Delivery Co. priced $1.2 billion of notes in two tranches on Tuesday, according to a market source.
Oncor priced $700 million of 4.55% notes due Sept. 15, 2032 with a spread of Treasuries plus 123 basis points. Initial price talk was in the Treasuries plus 145 bps area.
The company also priced $500 million of 4.95% 30-year notes with a spread of 148 bps over Treasuries. Initial price talk was in the Treasuries plus 170 bps to 175 bps area.
Barclays, MUFG, PNC Capital Markets LLC and RBC Capital Markets LLC are the bookrunners.
The electric company is based in Dallas.
| Issuer: | Oncor Electric Delivery Co.
|
| Amount: | $1.2 billion
|
| Issue: | Notes
|
| Bookrunners: | Barclays, MUFG, PNC Capital Markets LLC and RBC Capital Markets LLC
|
| Trade date: | Sept. 6
|
|
|
| 10-year notes
|
| Amount: | $700 million
|
| Maturity: | Sept. 15, 2032
|
| Coupon: | 4.55%
|
| Spread: | Treasuries plus 123 bps
|
| Price talk: | Treasuries plus 145 bps area
|
|
|
| 30-year notes
|
| Amount: | $500 million
|
| Maturity: | Sept. 15, 2052
|
| Coupon: | 4.95%
|
| Spread: | Treasuries plus 148 bps
|
| Price talk: | Treasuries plus 170 bps-175 bps area
|
|
|
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