Oncor Electric Delivery Co. LLC completed the sale of $1.30 billion worth of senior secured notes.
The offering consisted of $500 million of 2.75% notes due June 1, 2024, $300 million of 3.70% notes due Nov. 15, 2028, and $500 million of 3.80% notes due June 1, 2049.
Interest on the 2024 and 2049 notes are payable in cash semiannually in arrears on June 1 and Dec. 1 of each year, beginning Dec. 1. Interest on the 2028 notes is also payable in cash semiannually in arrears on May 15 and Nov. 15 of each year, beginning Nov. 15.
The company used net proceeds for general corporate purposes, including repayment of amounts outstanding under a credit agreement, repayment of its $250 million of 2.15% senior secured notes due June 1 and repayment, when due, under its commercial paper program.
Oncor is majority owned by Sempra Energy.