8-KOther Events

CONSOLIDATED EDISON INC 8-K Report (Apr 4, 2002)

Filed April 4, 2002For Securities:ED

Summary

Consolidated Edison, Inc. (ED) announced on April 3, 2002, its intention to issue $325 million in aggregate principal amount of 7.25% Public Income Notes (Debentures), Series 2002 A, due 2042. This offering is being made under a previously effective shelf registration statement filed with the SEC. The issuance of these debentures represents a move by Consolidated Edison to raise significant capital, likely for general corporate purposes or to finance ongoing operations and capital expenditures. Investors should note the fixed interest rate of 7.25% and the long maturity date of 2042, which indicates a long-term debt obligation for the company.

Key Highlights

  • 1Consolidated Edison, Inc. (ED) entered into an underwriting agreement on April 3, 2002.
  • 2The company plans to issue $325 million in aggregate principal amount of 7.25% Public Income Notes (Debentures), Series 2002 A.
  • 3The debentures will mature in 2042, indicating a 40-year term.
  • 4The offering is registered under a Form S-3 shelf registration statement previously declared effective on November 15, 2001.
  • 5This issuance is part of a larger $600 million unsecured debt securities program.
  • 6Key documents filed as exhibits include the underwriting agreement, the definitive form of the debentures, and a tax opinion from Dewey Ballantine LLP.

Frequently Asked Questions

While not explicitly stated in this 8-K, the issuance of debt securities like these debentures is typically done to raise capital for general corporate purposes, which can include funding operations, capital expenditures, refinancing existing debt, or pursuing strategic initiatives.

The new debentures will carry a fixed interest rate of 7.25% and will mature in 2042, giving them a 40-year term.

This issuance is being made under a previously effective shelf registration statement on Form S-3 (No. 333-72264) that was declared effective on November 15, 2001. This shelf registration allows the company to offer up to $600 million in unsecured debt securities over time.

Salomon Smith Barney Inc. is named as the representative of the underwriters in the underwriting agreement filed with this report.