Baltimore Gas and Electric Company Announces $250 Million Note Sale
BALTIMORE--(BUSINESS WIRE)-- Baltimore Gas and Electric Company (BGE) today announced that it has priced $250 million of 10-year notes, maturing on Aug. 15, 2022, with a coupon of 2.80 percent. BGE will use the net proceeds from the sale of the notes to repay outstanding commercial paper obligations and for general corporate purposes. The sale is scheduled to close on Aug. 17.
BofA Merrill Lynch, Goldman, Sachs & Co. and Morgan Stanley led the offering as active joint book-running managers. Crédit Agricole CIB and The Bank of New York served as passive joint book-running managers, with Williams Capital serving as co-manager for the deal.
BGEs offering demonstrates its continuing support for diversity and inclusion on the deal with the inclusion of Williams Capital, a minority-owned firm.
An automatic shelf registration statement relating to the sale of the notes 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 from Merrill Lynch, Pierce, Fenner & Smith Incorporated, 222 Broadway, 7th Floor, New York, NY 10038, attention: Prospectus Department, or e-mail email@example.com, Phone: 1-800-294-1322, Goldman, Sachs & Co., 200 West Street, New York, NY 10282, attention Prospectus Department, or e-mail firstname.lastname@example.org, Phone: 1-866-471-2526, facsimile: 212-902-9316, or Morgan Stanley & Co. LLC, 180 Varick Street, New York, NY 10014, attention: Prospectus Department, or e-mail email@example.com. Phone: 1 (866) 718-1649. This announcement does not constitute an offer to sell, or the solicitation of an offer to buy, any of these securities.
Cautionary Statements Regarding Forward-Looking Information
This 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 Baltimore Gas and Electric Company (Registrant) include those factors discussed herein, as well as the items discussed in (1) Exelon (EXC) Corporations 2011 Annual Report on Form 10-K in (a) ITEM 1A. Risk Factors, (b) ITEM 7. Managements Discussion and Analysis of Financial Condition and Results of Operations and (c) ITEM 8. Financial Statements and Supplementary Data: Note 18; (2) Constellation Energy Group Inc.s 2011 Annual Report on Form 10-K in (a) ITEM 1A. Risk Factors, (b) ITEM 7. Managements Discussion and Analysis of Financial Condition and Results of Operations and (c) ITEM 8. Financial Statements and Supplementary Data: Note 12; (3) the Registrants Second Quarter 2012 Quarterly Report on Form 10-Q in (a) Part II, Other Information, ITEM 1A. Risk Factors; (b) Part 1, Financial Information, ITEM 2. Managements Discussion and Analysis of Financial Condition and Results of Operations and (c) Part I, Financial Information, ITEM 1. Financial Statements: Note 16; and (4) other factors discussed in filings with the SEC by the Registrant. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this release. The Registrant does not undertake any obligation to publicly release any revision to its forward-looking statements to reflect events or circumstances after the date of this release.
BGE, headquartered in Baltimore, is Marylands largest gas and electric utility, delivering power to more than 1.2 million electric customers and more than 650,000 natural gas customers in central Maryland. The companys approximately 3,400 employees are committed to the safe and reliable delivery of gas and electricity, as well as enhanced energy management, conservation, environmental stewardship and community assistance. BGE is a subsidiary of Exelon Corporation, the nations leading competitive energy provider with approximately $33 billion in annual revenues.
Baltimore Gas and Electric Company (BGE)
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Source: Baltimore Gas and Electric Company (BGE)Copyright Business Wire 2012