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Edison International sells $550M of senior notes

Edison International sold $550 million of its 4.125% senior notes due March 15, 2028, according to a March 8 free writing prospectus.

The company plans to use proceeds to repay term loan agreement and commercial paper borrowings, as well as for general corporate purposes.

Interest on the notes is payable every March 15 and Sept. 15, beginning Sept. 15. The notes have a spread to benchmark U.S. Treasury of 128 basis points and were expected to be rated A3 by Moody's, BBB by S&P Global Ratings and A- by Fitch Ratings.

Barclays Capital Inc., J.P. Morgan Securities LLC, Wells Fargo Securities LLC, Morgan Stanley & Co. LLC and TD Securities (USA) LLC acted as joint book-running managers.

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