Summary
Exelon Corporation announced on October 29, 2015, the commencement of a private exchange offer for its outstanding notes. This exchange offer aims to replace existing 3.950% notes due 2025, 4.950% notes due 2035, and 5.100% notes due 2045 with new notes bearing the same interest rates and maturity dates. The offer is being conducted as a private placement, not registered with the SEC, and is exclusively available to qualified institutional buyers or non-U.S. persons in offshore transactions. This move suggests Exelon is actively managing its debt structure. Investors should note that the new notes are not registered, limiting their resale to specific eligible buyers. The company has also included a standard disclaimer regarding forward-looking statements, advising caution and referencing other SEC filings for detailed risk factors and financial information.
Key Highlights
- 1Exelon commenced a private exchange offer for its outstanding notes on October 29, 2015.
- 2The offer involves exchanging existing 3.950% notes due 2025 for new 3.950% notes due 2025.
- 3Additionally, existing 4.950% notes due 2035 are offered in exchange for new 4.950% notes due 2035.
- 4Existing 5.100% notes due 2045 can be exchanged for new 5.100% notes due 2045.
- 5The exchange offer is being made as a private transaction, not registered under the Securities Act of 1933.
- 6Participation is restricted to 'qualified institutional buyers' or 'U.S. persons' in offshore transactions under Regulation S.
- 7The announcement includes standard cautionary language regarding forward-looking statements.