The company said it closed its public offering of $1,000,000,000 in aggregate principal amount of 6.500% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2055 on February 19, 2025.

1. 01

   The company said it closed its public offering of $1,000,000,000 in aggregate principal amount of 6.500% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2055 on February 19, 2025.

2. 02

   The company said the proceeds from the sale of the notes, after deducting underwriting discounts but before deducting offering expenses estimated at approximately $2.2 million, were approximately $990 million.

3. 03

   Exelon said the notes bear interest at a fixed rate of 6.500% per annum until March 15, 2035, and thereafter reset during each Reset Period at the Five-year U.S. Treasury Rate plus a spread of 1.975%. It said the company may, at its option, defer interest payments for up to 20 consecutive semi-annual interest payment periods, so long as no event of default has occurred and is continuing.

4. 04

   The company said it may redeem the notes at a price in cash equal to 100% of the principal amount, plus accrued and unpaid interest, in the period from December 15, 2034 through March 15, 2035 and on any interest payment date thereafter. It said the public offering price to the underwriters was 100.000% of the principal amount.

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Original filing

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