Printer Friendly

SOUTHERN CALIFORNIA EDISON SELLS $425 MILLION OF BONDS

 ROSEMEAD, Calif., Jan. 13 /PRNewswire/ -- Southern California Edison Co. today issued $425 million of first and refunding mortgage bonds. The securities consisted of $225 million of 7-year bonds, series 93A, and $200 million of 4-year bonds, series 93B.
 The series 93A bonds, due 2000, were sold to a group of underwriters led by Salomon Brothers Inc. and were priced at 99.428 percent of the principal amount with a 6 3/4 percent coupon, which results in a 6.8540 percent cost to the company.
 Salomon's offer was the lowest cost of money among the three competing bids received. The bonds are expected to be offered to the public by the underwriters at 99.75 percent of the principal amount, to yield 6.7950 percent.
 The series 93B bonds, due 1997, were sold to a group of underwriters led by Merrill Lynch & Co. and were priced at 99.570 percent of the principal amount with a 5.90 percent coupon, which results in a 6.0227 percent annual cost to the company.
 Merrill's offer was the lowest cost of money among the three competing bids received. The bonds are expected to be offered to the public at 99.82 percent of the principal amount, to yield 5.9508 percent.
 The company currently intends to use the proceeds from the financings to redeem its Series CC, Series GG, and Series 86I first mortgage bonds on Feb. 12.
 These offerings are being made only through prospectuses, which may be obtained from the underwriters.
 -0- 1/13/93
 /CONTACT: Cathy Sedlik of Southern California Edison, 818-302-2255/


CO: Southern California Edison ST: California IN: UTI SU:

BP-LS -- LA038 -- 4627 01/13/93 18:05 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 13, 1993
Words:281
Previous Article:NOVA CORP. OF ALBERTA RECEIVES NOTIFICATION FROM THE PUBLIC UTILITIES BOARD
Next Article:MOODY'S LOWERS RATING ON CITY OF MIAMI BEACH, FLA. GENERAL OBLIGATION BONDS TO 'BAA1' FROM 'A'
Topics:


Related Articles
SOUTHERN CALIFORNIA EDISON SELLS THREE-YEAR BONDS AND PERPETUAL PREFERRED STOCK
SOUTHERN CALIFORNIA EDISON SELLS 7-YEAR BONDS AND CALLS ITS 8-7/8 PERCENT SERIES FF BONDS
SOUTHERN CALIFORNIA EDISON SELLS 15-YEAR PREFERRED STOCK
SOUTHERN CALIFORNIA EDISON LARGEST FINANCING DAY EVER
SOUTHERN CALIFORNIA EDISON CO. 'AA' SENIOR DEBT, PREFERRED ON FITCHALERT NEGATIVE -- FITCH FINANCIAL WIRE --
D&P: SO. CAL. EDISON $300 MILLION FIRST & REFUNDING MORTGAGE BONDS RATED 'A+'; $750 MILLION FIRST & REFUNDING MORTGAGE BONDS (SHELF) RATED 'A+'
DUFF & PHELPS: CITY OF FARMINGTON, N.M. $154.540 MILLION 5-7/8 PERCENT POLLUTION CONTROL REFUNDING REVENUE BONDS, 1993 SERIES A RATED 'A+'
DUFF & PHELPS RATES SOUTHERN CALIFORNIA EDISON
DUFF & PHELPS: SOUTHERN CALIFORNIA EDISON COMPANY $400 MILLION FIRST AND REFUNDING MORTGAGE BONDS (SHELF) RATED 'A+'
Edison To Redeem Bonds

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters