Consolidated Edison to Raise Funds through Public Offering of Shares

Published: Aug 08 2017
Deal Summary

Consolidated Edison, Inc. (Con Edison), a provider of energy-related products and services, has announced a public offering of 4,100,000 common shares.

J.P. Morgan Securities LLC is acting as underwriter, while Shearman & Sterling LLP is acting as legal advisor to the company for the offering.

The company intends to use the net proceeds for investment in its subsidiaries, principally Consolidated Edison Company of New York, Inc. and Con Edison Clean Energy Businesses, Inc., for funding of their construction expenditures and for other general corporate purposes. Pending these investments, the company may choose to repay outstanding commercial paper obligations.

The offering is subject to customary conditions.

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