Southern California Edison’s $750 Million Offering

Cleary Gottlieb represented BNP Paribas Securities Corp., Citigroup Global Markets Inc., MUFG Securities Americas Inc., and SMBC Nikko Securities America Inc., as representatives of the underwriters, in an offering of $750 million aggregate principal amount of 5.45% first-and-refunding mortgage bonds, Series 2024F, due 2031, 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 May 6, 2024, and is expected to close on May 9, 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.