8-KOther EventsExhibits & Filings

CONSOLIDATED EDISON INC 8-K Report, Corporate Update (Mar 13, 2012)

Filed March 13, 2012For Securities:ED

Summary

This Form 8-K filing by Consolidated Edison, Inc. (ED) reports on a significant debt issuance by its subsidiary, Consolidated Edison Company of New York, Inc. (CECONY), on March 8, 2012. CECONY successfully issued $400 million in aggregate principal amount of 4.20% Debentures, Series 2012 A. This action indicates the company's ongoing strategy to secure funding for its operations and potential future investments through the debt markets. Investors should note that this issuance was conducted under a pre-existing shelf registration statement, suggesting a well-planned financing strategy. The debentures were registered under the Securities Act of 1933, ensuring compliance with regulatory requirements for public offerings. While this report primarily details the debt issuance, it highlights the company's continuous need for capital to maintain and expand its utility infrastructure, a critical aspect for a company in the regulated utility sector.

Key Highlights

  • 1Consolidated Edison Company of New York, Inc. (CECONY), a subsidiary of ED, issued $400 million in 4.20% Debentures, Series 2012 A.
  • 2The debt issuance occurred on March 8, 2012.
  • 3The debentures were sold under an underwriting agreement with Barclays Capital Inc., Citigroup Global Markets Inc., Goldman, Sachs & Co., and RBS Securities Inc.
  • 4The issuance was registered under the Securities Act of 1933 via a Form S-3 registration statement.
  • 5This filing pertains to Item 8.01 (Other Events) and Item 9.01 (Exhibits) of Form 8-K.
  • 6Exhibits include the Underwriting Agreement, Form of Debentures, and legal opinions.

Frequently Asked Questions

The primary purpose of this Form 8-K filing was to report on the debt issuance by Consolidated Edison Company of New York, Inc. (CECONY), a subsidiary of Consolidated Edison, Inc. (ED). Specifically, it announced the sale of $400 million in 4.20% Debentures, Series 2012 A.

Consolidated Edison's subsidiary, CECONY, raised $400 million in aggregate principal amount through the issuance of these debentures.

These debentures were registered under a Form S-3 registration statement that was effective as of August 4, 2009. This indicates they were part of a pre-established shelf registration, suggesting that the company had previously planned for such issuances, though this specific series (2012 A) is new.

This debt issuance suggests that Consolidated Edison continues to utilize the debt markets to finance its operations and infrastructure. For a regulated utility, regular access to capital is essential for maintaining and upgrading its service, and this action demonstrates the company's ability to secure significant funding.