08/17/2022 | Press release | Distributed by Public on 08/17/2022 13:40
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Per Bond
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Total
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Public Offering Price(1)
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| | | | 99.587% | | | | | $ | 423,244,750 | | |
Underwriting Discount
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| | | | 0.875% | | | | | $ | 3,718,750 | | |
Proceeds, before expenses, to PECO Energy Company
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| | | | 98.712% | | | | | $ | 419,526,000 | | |
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Page
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ABOUT THIS PROSPECTUS SUPPLEMENT
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| | | | S-1 | | |
FORWARD-LOOKING STATEMENTS
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PECO ENERGY COMPANY
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| | | | S-2 | | |
SUMMARY FINANCIAL INFORMATION
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| | | | S-4 | | |
RISK FACTORS
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| | | | S-5 | | |
USE OF PROCEEDS
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| | | | S-6 | | |
CAPITALIZATION
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| | | | S-7 | | |
DESCRIPTION OF THE BONDS AND FIRST AND REFUNDING MORTGAGE
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| | | | S-8 | | |
CERTAIN UNITED STATES FEDERAL INCOME TAX CONSEQUENCES
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| | | | S-15 | | |
UNDERWRITING
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| | | | S-20 | | |
LEGAL MATTERS
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| | | | S-26 | | |
EXPERTS
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| | | | S-26 | | |
WHERE YOU CAN FIND MORE INFORMATION
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| | | | S-26 | | |
DOCUMENTS INCORPORATED BY REFERENCE
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| | | | S-26 | | |
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Page
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ABOUT THIS PROSPECTUS
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| | | | 1 | | |
FORWARD-LOOKING STATEMENTS
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| | | | 1 | | |
RISK FACTORS
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| | | | 2 | | |
EXELON CORPORATION
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| | | | 2 | | |
COMMONWEALTH EDISON COMPANY
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| | | | 2 | | |
PECO ENERGY COMPANY
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| | | | 2 | | |
BALTIMORE GAS AND ELECTRIC COMPANY
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| | | | 3 | | |
POTOMAC ELECTRIC POWER COMPANY
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| | | | 3 | | |
DELMARVA POWER & LIGHT COMPANY
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| | | | 3 | | |
ATLANTIC CITY ELECTRIC COMPANY
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| | | | 3 | | |
USE OF PROCEEDS
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| | | | 3 | | |
DESCRIPTION OF SECURITIES
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| | | | 3 | | |
PLAN OF DISTRIBUTION
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| | | | 3 | | |
LEGAL MATTERS
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| | | | 5 | | |
EXPERTS
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| | | | 5 | | |
WHERE YOU CAN FIND MORE INFORMATION
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| | | | 6 | | |
DOCUMENTS INCORPORATED BY REFERENCE
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| | | | 6 | | |
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Year Ended December 31,
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Six Months Ended
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2021
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2020
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2019
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June 30, 2022
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($ in millions)
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($ in millions)
(unaudited) |
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Income Statement Data | | | | | | | | | | | | | | | | | | | | | | | | | |
Total operating revenues
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| | | $ | 3,198 | | | | | $ | 3,058 | | | | | $ | 3,100 | | | | | $ | 1,863 | | |
Operating income
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| | | | 651 | | | | | | 546 | | | | | | 713 | | | | | | 431 | | |
Net income
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| | | | 504 | | | | | | 447 | | | | | | 528 | | | | | | 339 | | |
Cash Flow Data | | | | | | | | | | | | | | | | | | | | | | | | | |
Capital expenditures(a)
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| | | | (1,240) | | | | | | (1,147) | | | | | | (939) | | | | | | (658) | | |
Net cash flows provided by operating activities
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| | | | 773 | | | | | | 777 | | | | | | 751 | | | | | | 412 | | |
Net cash flows used in investing activities
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| | | | (1,231) | | | | | | (1,072) | | | | | | (1,008) | | | | | | (653) | | |
Net cash flows provided by financing activities
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| | | | 476 | | | | | | 294 | | | | | | 149 | | | | | | 229 | | |
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As of December 31,
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As of June 30,
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2021
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2020
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2019
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2022
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($ in millions)
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($ in millions)
(unaudited) |
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Balance Sheet Data | | | | | | | | | | | | | | | | | | | | | | | | | |
Property, plant and equipment, net
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| | | $ | 11,117 | | | | | $ | 10,181 | | | | | $ | 9,292 | | | | | $ | 11,591 | | |
Regulatory assets, including current portion
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| | | | 991 | | | | | | 801 | | | | | | 595 | | | | | | 1,094 | | |
Total assets
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| | | | 13,824 | | | | | | 12,531 | | | | | | 11,469 | | | | | | 14,216 | | |
Long-term debt, including due within one year
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| | | | 4,197 | | | | | | 3,753 | | | | | | 3,405 | | | | | | 4,192 | | |
Long-term debt to financing trusts(b)
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| | | | 184 | | | | | | 184 | | | | | | 184 | | | | | | 184 | | |
Total liabilities
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| | | | 8,712 | | | | | | 7,998 | | | | | | 7,291 | | | | | | 8,738 | | |
Total shareholder's equity
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| | | | 5,112 | | | | | | 4,533 | | | | | | 4,178 | | | | | | 5,478 | | |
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As of June 30, 2022
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Actual
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As Adjusted
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($ in millions)
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Long-term debt, including due within one year
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| | | $ | 4,192 | | | | | $ | 4,617 | | |
Long-term debt to financing trusts
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| | | | 184 | | | | | | 184 | | |
Total shareholders' equity
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| | | | 5,478 | | | | | | 5,478 | | |
Total capitalization
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| | | $ | 9,854 | | | | | $ | 10,279 | | |
Underwriter
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Principal Amount
of Bonds |
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BofA Securities, Inc.
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| | | $ | 70,834,000 | | |
Citigroup Global Markets Inc.
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| | | | 70,833,000 | | |
RBC Capital Markets, LLC
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| | | | 70,833,000 | | |
BNP Paribas Securities Corp.
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| | | | 42,500,000 | | |
Mizuho Securities USA LLC
|
| | | | 42,500,000 | | |
PNC Capital Markets LLC
|
| | | | 42,500,000 | | |
Scotia Capital (USA) Inc.
|
| | | | 42,500,000 | | |
M&T Securities, Inc.
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| | | | 21,250,000 | | |
Academy Securities, Inc.
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| | | | 5,313,000 | | |
Blaylock Van, LLC
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| | | | 5,313,000 | | |
C.L. King & Associates, Inc..
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| | | | 5,312,000 | | |
Drexel Hamilton, LLC
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| | | | 5,312,000 | | |
Total
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| | | $ | 425,000,000 | | |
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Page
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| |||
ABOUT THIS PROSPECTUS
|
| | | | 1 | | |
FORWARD-LOOKING STATEMENTS
|
| | | | 1 | | |
RISK FACTORS
|
| | | | 2 | | |
EXELON CORPORATION
|
| | | | 2 | | |
COMMONWEALTH EDISON COMPANY
|
| | | | 2 | | |
PECO ENERGY COMPANY
|
| | | | 2 | | |
BALTIMORE GAS AND ELECTRIC COMPANY
|
| | | | 3 | | |
POTOMAC ELECTRIC POWER COMPANY
|
| | | | 3 | | |
DELMARVA POWER & LIGHT COMPANY
|
| | | | 3 | | |
ATLANTIC CITY ELECTRIC COMPANY
|
| | | | 3 | | |
USE OF PROCEEDS
|
| | | | 3 | | |
DESCRIPTION OF SECURITIES
|
| | | | 3 | | |
PLAN OF DISTRIBUTION
|
| | | | 3 | | |
LEGAL MATTERS
|
| | | | 5 | | |
EXPERTS
|
| | | | 5 | | |
WHERE YOU CAN FIND MORE INFORMATION
|
| | | | 6 | | |
DOCUMENTS INCORPORATED BY REFERENCE
|
| | | | 6 | | |