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Southern California Edison offers mortgage bonds due 2026, 2029, 2054
Chicago, Feb. 27 – Southern California Edison Co. is in the market with three tranches of first and refunding mortgage bonds, according to a 424B2 filing with the Securities and Exchange Commission.
The offering will include series 2024C bonds due 2026, series 2024D bonds due 2029 and series 2024E bonds due 2054.
The bonds due 2026 will be callable with a make-whole premium throughout the life of the bonds. The series D and series E bonds will be callable first with a make-whole premium and then will later be callable at par.
Barclays, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Mizuho Securities USA LLC are leading the sale.
BMO Capital Markets Corp., SG Americas Securities, LLC and TD Securities (USA) LLC join as joint bookrunners.
Bank of New York Mellon Trust Co., NA will be the trustee.
The issuer is using in-house counsel. Cleary Gottlieb Steen & Hamilton LLP is counsel for the underwriters.
Proceeds will be used to fund the payment of wildfire claims related to the amount above expected insurance proceeds, to repay commercial paper borrowings and for general corporate purposes.
Southern California Edison, a subsidiary of Edison International, is an electric utility based in Rosemead, Calif.
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