Southern California Edison’s $500 Million Offering

Cleary Gottlieb represented BofA Securities Inc. and Mizuho Securities USA LLC, as underwriters, in an offering of $500 million aggregate principal amount of 4.4% first-and-refunding mortgage bonds, Series 2024G, due 2026, by Southern California Edison Co. (SCE).

The senior debt securities are secured by a lien on substantially all of SCE’s property and franchises. The bond transaction priced on September 3, 2024, and is expected to close on September 6, 2024.

SCE is an investor-owned public utility primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of Southern California, excluding the City of Los Angeles and certain other cities. It owns and operates transmission, distribution, and generation facilities, and procures power from a variety of sources, including other utilities, merchant generators, and other nonutility generators.