Consolidated Edison Enters into Underwriting Agreement for Debentures: Financial News

Consolidated Edison, Inc. (NYSE: ED) recently disclosed in a Form 8-K filing with the Securities and Exchange Commission that its subsidiary, Consolidated Edison Company of New York, Inc. (CECONY), entered into an underwriting agreement on November 14, 2024. The agreement was made with Barclays Capital Inc., BofA Securities, Inc., Mizuho Securities USA LLC, and Scotia Capital (USA) Inc., who act as representatives of the underwriters named in the agreement.

The underwriting agreement entails the sale of three categories of debentures by CECONY. These include $350 million aggregate principal amount of Floating Rate Debentures, Series 2024 C due 2027, $450 million aggregate principal amount of 5.125% Debentures, Series 2024 D due 2035, and $650 million aggregate principal amount of 5.50% Debentures, Series 2024 E due 2055. Collectively, these debentures are referred to as the Debentures.

The Debentures were registered under the Securities Act of 1933 in accordance with a Registration Statement on Form S-3 (No. 333-281192) effective as of August 1, 2024.

Additionally, the filing included details of the financial statements and exhibits associated with the agreement. This involved various exhibits such as the underwriting agreement, and forms of the 2024 C, 2024 D, and 2024 E Debentures, as well as opinions from Deneen Donnley, Senior Vice President and General Counsel of CECONY, along with necessary consents.

Consolidated Edison Company of New York, Inc. has strategically engaged in this underwriting agreement to facilitate the sale of these Debentures, signifying a notable financial move for the company.

This news article was based on an official 8-K filing submitted by Consolidated Edison, Inc. to the SEC on November 14, 2024. Investors and stakeholders are advised to stay updated with the company’s future reports and financial disclosures for further information regarding this underwriting agreement.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Consolidated Edison’s 8K filing here.

About Consolidated Edison

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.