Edison International issued $400 million of its 4.95% senior notes due 2025.
The notes carry a spread to benchmark Treasury of 462.5 basis points and expected ratings of Baa3 by Moody's, BBB- by S&P Global Ratings and BBB- by Fitch. The issuance is scheduled to settle April 3.
The company intends to use proceeds to repay at maturity some or all of its outstanding 2.125% senior notes due 2020 and the remainder for general corporate purposes.
J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and TD Securities (USA) LLC were the joint book-running managers. Guzman & Co. and MFR Securities Inc. were co-managers.