Summary
On September 25, 2006, Consolidated Edison, Inc. (Con Edison) reported on two significant financing activities via Form 8-K. The parent company, Con Edison, successfully completed the sale of 9,715,000 shares of its Common Stock, raising capital. Concurrently, its subsidiary, Consolidated Edison Company of New York, Inc. (Con Edison of New York), issued $400 million in 5.50% Debentures due 2016, also raising substantial funds. These transactions, registered under previously effective S-3 registration statements, indicate Con Edison's proactive approach to managing its capital structure and funding its operations. Investors should note these events as they represent material financing activities that could impact the company's financial leverage and liquidity.
Key Highlights
- 1Consolidated Edison, Inc. sold 9,715,000 shares of its Common Stock on September 25, 2006.
- 2Consolidated Edison Company of New York, Inc. issued $400 million of 5.50% Debentures due 2016.
- 3Both issuances were completed pursuant to underwriting agreements.
- 4The Common Shares issuance was registered under Form S-3 (No. 333-136267).
- 5The Debentures issuance was registered under Form S-3 (No. 333-136268).
- 6The filings also included details of underwriting agreements and legal opinions as exhibits.