New Issue-Southern California Edison sells $400 mln bonds

Tue Aug 12, 2008 12:32am IST

[-] Text [+]

 Aug 11 (Reuters) - Southern California Edison Co, a unit of
Edison International (EIX.N: Quote, Profile, Research), on Monday sold $400 million in
10-year first mortgage bonds, said IFR, a Thomson Reuters
publication.

 The size of the deal was increased from an originally
planned $300 million.

 Credit Suisse, Merrill Lynch, and RBS Greenwich Capital
were the joint book-running managers for the sale.
BORROWER: SOUTHERN CALIFORNIA EDISON CO
AMT $400 MLN      COUPON 5.50 PCT      MATURITY 8/15/2018  
TYPE 1ST MTG BDS  ISS PRICE 99.432     FIRST PAY 2/15/2009 
MOODY'S A2        YIELD 5.575 PCT      SETTLEMENT 8/18/2008
S&P SINGLE-A      SPREAD 155 BPS       PAY FREQ SEMI-ANNUAL
FITCH A-PLUS       MORE THAN TREAS     NON-CALLABLE

g20 meeting

Russian Finance Minister Alexey Kudrin poses with his G20 colleagues and central bank leaders during the family photo at the G20 Finance Ministers meeting at a hotel in St. Andrews, Scotland. REUTERS/POOL New

Pledge to support economies

G20 financial leaders pledged to prepare strategies to end emergency support for their economies, but to keep the aid flowing until recovery was assured. Full Article | Related Story

UK floats bank levy, G20 launches imbalances framework