Exelon Corporation intends to offer $900 million aggregate principal amount of its convertible senior notes due 2029 in a private placement under the Securities Act of 1933.
The net proceeds from the offering will be used for debt repayment, refinancing, or general corporate purposes.
The convertible notes will be senior unsecured obligations of Exelon and will be convertible at the option of the holders under certain conditions.
Offering Amount
$900 million aggregate principal amount of convertible senior notes due 2029.
Use of Proceeds
Repayment or refinancing of debt, and general corporate purposes.
Conversion Option
Convertible at the option of holders upon meeting specific conditions.
- The offering is aimed at qualified institutional buyers pursuant to Rule 144A under the Securities Act.
- Important cautionary statements regarding forward-looking information have been issued to address risks and uncertainties.
Exelon's announcement of the proposed offering signifies a strategic move to raise capital through convertible senior notes, with a focus on leveraging the funds for corporate financial requirements.