Edison International Prices Public Offering of 2.4% Notes Due 2022 for USD400 Million

Published: Aug 17 2017
Deal Summary

Edison International, a power generation and distribution company, has priced the public offering of 2.4% senior notes due September 15, 2022, for gross proceeds of USD400 million. The notes were priced at 99.672% of the principal amount and will yield 2.469% upon maturity.

Interest on the notes will be paid semi-annually on March 15 and September 15 of each year, commencing on March 15, 2018. The notes are callable for redemption at any time prior to August 15, 2022, in whole or in part, at a make whole premium of T + 12.5 basis points. At any time on or after August 15, 2022, the notes are callable for redemption , in whole or in part, at 100% of the principal amount of the notes being redeemed plus accrued and unpaid interest to but excluding the date of redemption.

BNP Paribas Securities Corp., Citigroup Global Markets Inc. and MUFG Securities Americas Inc. are acting as joint book-running managers, while Mizuho Securities USA LLC and TD Securities (USA) LLC are acting as co-managers to the company for the offering.

The company intends to use the proceeds to repay at maturity its 3.75% senior notes due 2017.

Deal History:

Filing: On September 17, 2015, Edison International filed a prospectus with the US Securities and Exchange Commission for public offering of debt securities from time to time in one or more offerings.

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