8-KOther EventsExhibits & Filings

CONSOLIDATED EDISON INC 8-K Report, Corporate Update (Jun 7, 2010)

Filed June 7, 2010For Securities:ED

Summary

Consolidated Edison, Inc. (ED) filed an 8-K on June 7, 2010, reporting on a significant debt issuance by its subsidiary, Consolidated Edison Company of New York, Inc. (CECONY). On June 2, 2010, CECONY entered into an underwriting agreement for the sale of $700 million in aggregate principal amount of new debentures, split between $350 million of 4.45% Series 2010 A Debentures and $350 million of 5.70% Series 2010 B Debentures. This issuance of long-term debt provides CECONY with substantial capital, likely intended to fund ongoing operations, capital expenditures, or refinance existing debt. Investors should note the specific interest rates and maturity dates (though not detailed in this filing) as they impact the company's future interest expense and financial leverage. The registration of these debentures under the Securities Act of 1933 indicates they were offered to the public.

Key Highlights

  • 1CECONY issued $350 million of 4.45% Series 2010 A Debentures.
  • 2CECONY issued $350 million of 5.70% Series 2010 B Debentures.
  • 3Total aggregate principal amount of new debentures issued is $700 million.
  • 4The issuance was conducted through an underwriting agreement with several major financial institutions.
  • 5The debentures were registered under the Securities Act of 1933, indicating a public offering.
  • 6This 8-K filing primarily serves to announce the details of this debt offering as an 'Other Event'.

Frequently Asked Questions

This 8-K filing is to report an 'Other Event,' specifically the underwriting agreement entered into by Consolidated Edison Company of New York, Inc. (CECONY) for the sale of $700 million in aggregate principal amount of new debentures.

CECONY issued two series of debentures: $350 million aggregate principal amount of 4.45% Series 2010 A Debentures and $350 million aggregate principal amount of 5.70% Series 2010 B Debentures.

The registration under the Securities Act of 1933 indicates that these debentures were offered to the public, meaning they were available for purchase by a wide range of investors, not just private placements.

The total aggregate principal amount raised from the issuance of both series of debentures is $700 million ($350 million + $350 million).