New Issue: Oncor Electric sells $900 million of notes in 10-, 30-year tranches

By Andrea Heisinger

New York, May 18 - Oncor Electric Delivery Co. LLC gave partial terms of its $900 million of senior secured notes (Baa1/A-/BBB+) priced in two tranches in a form 8-K filing with the Securities and Exchange Commission.

The deal consisted of $400 million of 4.1% 10-year notes and $500 million of 5.3% 30-year bonds.

Bank of America Merrill Lynch, Credit Suisse Securities (USA) LLC and Morgan Stanley & Co. LLC ran the books.

The deal was priced under Rule 144A and Regulation S.

The electric company is based in Dallas.

Issuer:	Oncor Electric Delivery Co. LLC
Issue:	Senior secured notes
Amount:	$900 million
Bookrunners:	Bank of America Merrill Lynch, Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC
Distribution:	Rule 144A, Regulation S
Trade date:	May 15
Settlement date:	May 18
Ratings:	Moody's: Baa1
	Standard & Poor's: A-
	Fitch: BBB+
10-year notes
Amount:	$400 million
Maturity:	June 1, 2022
Coupon:	4.1%
Call:	Make-whole call until March 1, 2022, par call after
30-year bonds
Amount:	$500 million
Maturity:	June 1, 2042
Coupon:	5.3%
Call:	Make-whole call before Dec. 1, 2042, par call after

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