Southern California Edison’s $550 Million Offering

Cleary Gottlieb represented BofA Securities, MUFG, and TD Securities, as representatives of the underwriters, in an offering of $550 million aggregate principal amount of 5.65% first-and-refunding mortgage bonds, Series 2023E, due 2028, 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 26, 2023, and is expected to close on September 29, 2023.

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.