Con Edison to Redeem 2.00% Debentures, Series 2017 A
Source: Nasdaq GlobeNewswire / 20 Nov 2019 17:02:23 America/New_York
NEW YORK, Nov. 20, 2019 (GLOBE NEWSWIRE) -- Consolidated Edison, Inc. (Con Edison) (NYSE: ED) announced today that it will redeem all of its outstanding $400,000,000 2.00% Debentures, Series 2017 A due March 15, 2020 (CUSIP No. 209115 AD 6) (the Debentures) on December 20, 2019 (the Redemption Date). On the Redemption Date, a redemption price equal to the greater of (1) 100% of the principal amount of the Debentures being redeemed or (2) the sum of the present values of the remaining scheduled payments of principal and interest thereon (exclusive of interest accrued to the Redemption Date) discounted to the Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined in the Debentures) plus 10 basis points, plus, in each case, accrued interest on the principal amount being redeemed to, but not including, the Redemption Date, will be payable by Con Edison.
Consolidated Edison, Inc. is one of the nation's largest investor-owned energy-delivery companies, with approximately $12 billion in annual revenues and $56 billion in assets. The company provides a wide range of energy-related products and services to its customers through the following subsidiaries: Consolidated Edison Company of New York, Inc. (CECONY), a regulated utility providing electric, gas and steam service in New York City and Westchester County, New York; Orange and Rockland Utilities, Inc. (O&R), a regulated utility serving customers in a 1,300-square-mile-area in southeastern New York State and northern New Jersey; Con Edison Clean Energy Businesses, Inc., which through its subsidiaries develops, owns and operates renewable and energy infrastructure projects and provides energy-related products and services to wholesale and retail customers; and Con Edison Transmission, Inc., which through its subsidiaries invests in electric and natural gas transmission projects.
Contact: Robert McGee