Edison International sold $400 million of its 2.125% senior notes due April 15, 2020, to repay commercial paper borrowings and for general corporate purposes, according to a March 23 free writing prospectus.
Interest is payable semiannually April 15 and Oct. 15, starting Oct. 15. The bonds have a spread to benchmark Treasury of 62.5 basis points. The issuance was expected to be rated A3 by Moody's, BBB by S&P Global Ratings and A- by Fitch Ratings.
Barclays Capital Inc. and Wells Fargo Securities LLC acted as joint book-running managers. BNP Paribas Securities Corp. and PNC Capital Markets LLC served as co-managers.
S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.