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ComEd Announces $650 Million Bond Sale

CHICAGO, Jan. 7, 2014 /PRNewswire/ -- ComEd announced that it has priced $650 million of First Mortgage Bonds, consisting of $300 million maturing on January 15, 2019, with a coupon of 2.15 percent and $350 million maturing on January 15, 2044, with a coupon of 4.70 percent.  ComEd will use the net proceeds from the sale of the bonds to refinance the $17 million outstanding principal amount of our First Mortgage 5.85% Bonds, Pollution Control Series 1994C, due January 15, 2014, and the $600 million outstanding principal amount of our First Mortgage 1.625% Bonds, Series 110, due January 15, 2014, and for general corporate purposes.  The sale is scheduled to close on January 10. 

BNP Paribas Securities Corp., J.P. Morgan Securities LLC and Scotia Capital (USA) Inc. led the offering as active joint book-running managers.  Credit Agricole Securities (USA) Inc., RBC Capital Markets, LLC, and U.S. Bancorp Investments, Inc. served as passive joint book-running managers and KeyBanc Capital Markets Inc. served as a senior co-manager.  Minority-owned Apto Partners, LLC and Drexel Hamilton, LLC, and woman-owned C.L. King & Associates, 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 BNP Securities Corp. at (800) 854-5674, J.P. Morgan Securities LLC at (212) 834-4533 and Scotia Capital (USA) Inc. at (800) 372-3930.  

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'sThird 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 Press Release.  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.

SOURCE ComEd

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