trending Market Intelligence /marketintelligence/en/news-insights/trending/yfq_emindtjqckt7fetkcg2 content esgSubNav
In This List

Public Service Electric and Gas sells $650M of medium-term notes


Insight Weekly: Banks brace for recession; Europe PE deal values soar; US solar imports rebound


According to Market Intelligence, December 2022


Insight Weekly: Layoffs swell; energy efficiency PE deals defy downturn; 2023 global risk themes


Energy Evolution | How will US Democrats' new deal on climate affect the energy transition?

Public Service Electric and Gas sells $650M of medium-term notes

Public Service Electric and Gas Co. on Sept. 7 completed a public offering of $650 million of series M medium-term notes to repay $350 million of its 2.3% series I medium-term notes due Sept. 15 and for general corporate purposes, according to company filings.

The Public Service Enterprise Group Inc. subsidiary sold $325 million of 3.25% notes due Sept. 1, 2023, and $325 million of 3.65% notes due Sept. 1, 2028. The issue was rated Aa3 by Moody's and A by S&P Global Ratings. Interest on the notes is payable semiannually on March 1 and Sept. 1 of each year, starting March 1, 2019.

CIBC World Markets Corp., 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. U.S. Bancorp Investments Inc., Academy Securities Inc. and Loop Capital Markets LLC served as co-managers.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.