01—Abstract
Summary
Summary of the 8-K filed March 10, 2025. Cited figures are marked; the original filing is the authoritative source.
On March 10, 2025, Public Service Enterprise Group Incorporated (PSEG) completed a public offering of two series of senior notes: $600,000,000a aggregate principal amount of 4.900% Senior Notes due 2030 and $400,000,000 aggregate principal amount of 5.400% Senior Notes due 2035.
The notes were sold under a Form S-3 registration statement (File No. 333-275509), its related prospectus dated November 13, 2023, and a prospectus supplement dated March 6, 2025. Barclays Capital Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and RBC Capital Markets, LLC served as representatives of the underwriters under an underwriting agreement dated March 6, 2025. The notes were issued under an indenture dated as of November 1, 1998 with U.S. Bank Trust Company, National Association, as successor trustee.
The filing is primarily a procedural disclosure that files the underwriting agreement, the indenture, the forms of each note, and a legality opinion from John C. Walmsley, Associate Counsel of PSEG Services Corporation, all of which are incorporated by reference into the registration statement. The filing does not disclose the use of proceeds, pricing, or yields.
02—Key points
Key Highlights
- PSEG completed the sale of $600,000,000 of 4.900% Senior Notes due 2030 on March 10, 2025.
- PSEG also completed the sale of $400,000,000 of 5.400% Senior Notes due 2035 on the same date, bringing the total offering to $1,000,000,000.
- The offering was made under Form S-3 registration statement No. 333-275509, with a prospectus dated November 13, 2023 and a prospectus supplement dated March 6, 2025.
- The underwriting agreement is dated March 6, 2025, with Barclays Capital Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and RBC Capital Markets, LLC as representatives of the underwriters.
- Both series of notes are governed by an indenture dated as of November 1, 1998 with U.S. Bank Trust Company, National Association, as successor trustee.
- A legality opinion from John C. Walmsley, Associate Counsel of PSEG Services Corporation, is filed as Exhibit 5 and incorporated by reference into the registration statement.
03—Questions
Frequently Asked Questions
How much debt did PSEG issue in this offering?
PSEG issued $600,000,000 of 4.900% Senior Notes due 2030 and $400,000,000 of 5.400% Senior Notes due 2035, for a combined aggregate principal amount of $1,000,000,000.
When do the new notes mature?
The 4.900% Senior Notes mature in 2030, and the 5.400% Senior Notes mature in 2035, as indicated by their titles in the filing.
Who underwrote the offering?
The notes were sold to underwriters under an underwriting agreement dated March 6, 2025. Barclays Capital Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and RBC Capital Markets, LLC acted as representatives of the several underwriters named in the agreement.
Under what registration and governing documents were the notes issued?
The notes were offered under Form S-3 registration statement No. 333-275509 and its related prospectus dated November 13, 2023, plus a prospectus supplement dated March 6, 2025. Each series is governed by an indenture dated as of November 1, 1998 with U.S. Bank Trust Company, National Association, as successor trustee.
Does the filing state how the proceeds will be used?
The filing does not discuss the intended use of the proceeds. It focuses on the terms of the offering, the underwriting arrangements, the governing indenture, and the legal opinion on the notes' validity.
04—Continue