Issuer
|
Metropolitan Edison Company | |
Ratings*
|
Baa2/BBB (Moodys/S&P) | |
Principal Amount
|
$300,000,000 | |
Security Type
|
7.70% Senior Notes Due 2019 | |
Trade Date
|
January 14, 2009 | |
Settlement Date
|
January 20, 2009; T+3 | |
Maturity Date
|
January 15, 2019 | |
Coupon Payment Dates
|
Semi-annual payments in arrears on January 15 and July 15 of each year, beginning on July 15, 2009 |
|
Call Structure
|
Make-whole call at T+50 bps | |
Benchmark
|
3.75% due November 15, 2018 | |
Benchmark Price
|
113-21 | |
Benchmark Yield
|
2.198% | |
Reoffer Spread
|
550.2 bps | |
Reoffer Yield
|
7.70% | |
Coupon
|
7.70% | |
Price
|
100% of principal amount | |
Net Proceeds (%)
|
99.35% | |
Net Proceeds ($)
|
$298,050,000 | |
Joint-Bookrunners
|
Banc of America Securities LLC (30%) Goldman, Sachs & Co. (30%) Scotia Capital (USA) Inc. (30%) |
|
Co-Manager
|
PNC Capital Markets LLC (10%) | |
CUSIP
|
591894 BX7 | |
ISIN
|
US591894BX72 |