Baltimore Gas and Electric Co. announced that it has priced $300 million of 10-year notes, maturing on July 1, 2023, with a coupon of 3.35 percent.
BGE will use the net proceeds from the sale of the notes to partially repay, at maturity, $400 million worth of notes, carrying an interest rate of 6.125 percent, which are due July 1, 2013, and for general corporate purposes.
The sale is scheduled to close on June 17. BNP Paribas Securities Corp., J.P. Morgan Securities LLC and Scotia Capital (USA) Inc. led the offering as active joint book-running managers.
Goldman, Sachs & Co. and CIBC served as passive joint book-running managers.