Attached files
file | filename |
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EX-5.1 - OPINION DATED AUGUST 19, 2013 OF SIDLEY AUSTIN LLP - COMMONWEALTH EDISON Co | d585482dex51.htm |
EX-4.1 - SUPPLEMENTAL INDENTURE - COMMONWEALTH EDISON Co | d585482dex41.htm |
EX-1.1 - UNDERWRITING AGREEMENT - COMMONWEALTH EDISON Co | d585482dex11.htm |
EX-12.1 - STATEMENT REGARDING COMPUTATION OF THE RATIO OF EARNINGS TO FIXED CHARGES - COMMONWEALTH EDISON Co | d585482dex121.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) August 19, 2013
Commission File |
Exact Name of Registrant as Specified in Its Charter; State of Incorporation; Address of Principal Executive Offices; and Telephone Number |
IRS Employer Identification Number | ||
1-1839 |
COMMONWEALTH EDISON COMPANY (an Illinois corporation) 440 South LaSalle Street Chicago, Illinois 60605-1028 (312) 394-4321 |
36-0938600 |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Section 1 Registrants Business and Operations
Item 1.01. Entry into a Material Definitive Agreement.
On August 19, 2013, Commonwealth Edison Company (ComEd) issued $350 million aggregate principal amount of its First Mortgage 4.60% Bonds, Series 114, due August 15, 2043. See Item 2.03 below for a description of the Bonds and related agreements.
Section 2 Financial Information
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
On August 19, 2013, ComEd issued $350 million aggregate principal amount of its First Mortgage 4.60% Bonds, Series 114, due August 15, 2043 (Bonds). The Bonds were issued pursuant to ComEds Mortgage dated July 1, 1923, as amended and supplemented by supplemental indentures, including the Supplemental Indenture dated August 1, 1944 (Mortgage) and the Supplemental Indenture dated as of August 1, 2013 (Supplemental Indenture). The Mortgage is a first mortgage on ComEds utility plant. The proceeds of the Bonds will be used by ComEd to repay a portion of ComEds outstanding commercial paper obligations and to fund other general corporate purposes. The Bonds were registered under the Securities Act of 1933, as amended, pursuant to ComEds Registration Statement on Form S-3 (Registration No. 333-181749-04), which was declared effective upon filing with the Securities and Exchange Commission (SEC) on May 30, 2012.
The Bonds carry an interest rate of 4.60% per annum, which is payable semi-annually on February 15 and August 15, commencing February 15, 2014. The Bonds are redeemable in whole or in part at ComEds option (i) at any time prior to February 15, 2043 at a redemption price equal to the greater of 100% of the principal amount to be redeemed or a make-whole redemption price calculated as provided in the Supplemental Indenture, plus accrued and unpaid interest up to but excluding the redemption date, and (ii) on or after February 15, 2043 at a redemption price equal to 100% of the principal amount to be redeemed, plus accrued and unpaid interest up to but excluding the redemption date. A copy of the Supplemental Indenture, which sets forth the terms of the Bonds, is attached hereto as Exhibit 4.1 and is incorporated herein by reference.
In connection with the issuance of the Bonds, Sidley Austin LLP provided ComEd with the legal opinion attached to this Current Report as Exhibit 5.1.
A copy of the Underwriting Agreement dated August 12, 2013 between ComEd and Mitsubishi UFJ Securities (USA), Inc., Morgan Stanley & Co. LLC and UBS Securities LLC, as representatives of the several underwriters named therein, is filed as Exhibit 1.1. to this Current Report. Mitsubishi UFJ Securities (USA), Inc., Morgan Stanley & Co. LLC, UBS Securities LLC, Credit Agricole Securities (USA) Inc. and U.S. Bancorp Investments, Inc. have banking affiliates who are lending parties in ComEds revolving credit facility. Some of the underwriters and their affiliates have engaged in, and may in the future engage in, investment banking and other commercial dealings in the ordinary course of business with ComEd and its affiliates. They have received customary fees and commissions for these transactions.
Section 9 Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits.
(d) | Exhibits. |
The following exhibits are filed herewith and are exhibits to the Registration Statement on Form S-3, Registration No. 333-181749-04, as noted below:
Exhibit No. |
Registration Statement Exhibit No. |
Description | ||
1.1 | 1.1.4 | Underwriting Agreement dated August 12, 2013 between ComEd and Mitsubishi UFJ Securities (USA), Inc., Morgan Stanley & Co. LLC and UBS Securities LLC, as representatives of the several underwriters named therein | ||
4.1 | 4.26.2 | Supplemental Indenture dated as of August 1, 2013 from ComEd to BNY Mellon Trust Company of Illinois, as trustee, and D.G. Donovan, as co-trustee | ||
5.1 | 5.1.4 | Opinion dated August 19, 2013 of Sidley Austin LLP | ||
12.1 | 12.5.1 | Statement regarding computation of the ratio of earnings to fixed charges for the six months ended June 30, 2013 |
* * * * *
This Current Report includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. The factors that could cause actual results to differ materially from these forward-looking statements include those discussed herein as well as those discussed in (1) ComEds 2012 Annual Report on Form 10-K in (a) ITEM 1A. Risk Factors, (b) ITEM 7. Managements Discussion and Analysis of Financial Condition and Results of Operations and (c) ITEM 8. Financial Statements and Supplementary Data: Note 19; (2) ComEds Second Quarter 2013 Quarterly Report on Form 10-Q in (a) Part II, Other Information, ITEM 1A. Risk Factors, (b) Part 1, Financial Information, ITEM 2. Managements Discussion and Analysis of Financial Condition and Results of Operations and (c) Part I, Financial Information, ITEM 1. Financial Statements: Note 18; and (3) other factors discussed in filings with the Securities and Exchange Commission by ComEd. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this Current Report. ComEd does not undertake any obligation to publicly release any revision to its forward-looking statements to reflect events or circumstances after the date of this Current Report.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, ComEd has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
COMMONWEALTH EDISON COMPANY |
/s/ Joseph R. Trpik, Jr. |
Joseph R. Trpik, Jr. |
Senior Vice President, Chief Financial Officer and Treasurer |
Commonwealth Edison Company |
August 19, 2013
EXHIBIT INDEX
Exhibit No. |
Registration Statement Exhibit No. |
Description | ||
1.1 | 1.1.4 | Underwriting Agreement dated August 12, 2013 between ComEd and Mitsubishi UFJ Securities (USA), Inc., Morgan Stanley & Co. LLC and UBS Securities LLC, as representatives of the several underwriters named therein | ||
4.1 | 4.26.2 | Supplemental Indenture dated as of August 1, 2013 from ComEd to BNY Mellon Trust Company of Illinois, as trustee, and D.G. Donovan, as co-trustee | ||
5.1 | 5.1.4 | Opinion dated August 19, 2013 of Sidley Austin LLP | ||
12.1 | 12.5.1 | Statement regarding computation of the ratio of earnings to fixed charges for the six months ended June 30, 2013 |