Public Service Electric and Gas Co. on Dec. 6 completed a public offering of $350 million of its 3.6% series L secured medium-term notes due Dec. 1, 2047. Interest on the notes is payable June 1 and Dec. 1 of each year, starting June 1, 2018.
The Public Service Enterprise Group Inc. subsidiary will add the sale proceeds to its general funds and use those funds for general corporate purposes.
MUFG Securities Americas Inc., Scotia Capital (USA) Inc., Wells Fargo Securities LLC, Credit Suisse Securities (USA) LLC and Merrill Lynch Pierce Fenner & Smith Inc. acted as joint book-running managers. CastleOak Securities LP served as the sole co-manager.