WASHINGTON, Jul 20, 2010 (BUSINESS WIRE) --
Pepco Holdings, Inc. (NYSE:POM) (the "Company") announced today that it
has purchased, pursuant to a previously announced tender offer, all of
the senior notes of the following series that were tendered on or prior
to the expiration of the tender offer.
$128,906,000 of the Company's 6.125% Senior Notes due 2017 (the "6.125%
$65,135,000 of the Company's 7.45% Senior Notes due 2032 (the "7.45%
Holders of the 6.125% Notes and 7.45% Notes that were tendered on or
prior to July 1, 2010 (the "Early Tender Date") received consideration
of $1,125.00 and $1,200.00 per $1,000 in principal amount, respectively,
plus accrued and unpaid interest from the last interest payment date to,
but not including, the settlement date. Holders of the 6.125% Notes and
7.45% Notes that were tendered after the Early Tender Date but prior to
the expiration of the tender offer received consideration of $1,095.00
and $1,170.00 per $1,000 in principal amount, respectively, plus accrued
and unpaid interest from the last interest payment date to, but not
including, the settlement date. After giving effect to the purchases,
$121,094,000 in principal amount of 6.125% Notes and $184,865,000 in
principal amount of the 7.45% Notes remain outstanding.
The repurchase of the 6.125% Notes and the 7.45% Notes was funded using
proceeds from the sale of the Company's wholesale power generation
Citi, J.P. Morgan and Wells Fargo Securities served as dealer managers
for the debt tender offer.
Pepco Holdings, Inc., headquartered in Washington, D.C., delivers
electricity and natural gas to about 1.9 million customers in Delaware,
the District of Columbia, Maryland and New Jersey, through its
subsidiaries Pepco, Delmarva Power and Atlantic City Electric. PHI also
provides retail energy products and services through Pepco Energy
SOURCE: Pepco Holdings, Inc.
Pepco Holdings, Inc.
Clay Anderson, 202-872-2680
Donna Kinzel, 302-429-3004