Continental Wind closes $613m senior secured notes sale

September 30, 2013 05:13 PM Eastern Daylight Time

CHICAGO–(BUSINESS WIRE)–Exelon Corporation today announced that its indirect subsidiary Continental Wind, LLC has closed a non-recourse project financing consisting of $613 million in 6.00 percent senior secured notes due Feb. 28, 2033.

Continental Wind, LLC will distribute the net proceeds from the offering to its indirect parent, Exelon Generation Company, LLC, for its general corporate purposes.

Continental Wind, LLC owns and operates a portfolio of wind farms in Idaho, Kansas, Michigan, Oregon, New Mexico and Texas with a total net capacity of 667 megawatts.

RBS Securities Corp., Barclays Capital Inc. and Citigroup Global Markets Inc. led the offering as joint book-running managers and Credit Agricole Securities USA Inc., RBC Capital Markets and Mitsubishi UFJ Securities USA Inc. served as co-managers. In addition, Saltbox Partners, LLC, a woman-owned firm, served as a structuring advisor.

The notes were sold to the Initial Purchasers pursuant to an exemption from the registration requirements under the Securities Act of 1933, as amended (the “Securities Act”). The Initial Purchasers intend to resell the notes in private sales exempt from registration under the Securities Act (i) inside the United States to “qualified institutional buyers” as defined in Rule 144A under the Securities Act (“Rule 144A”), in accordance with Rule 144A and (ii) to other eligible purchasers pursuant to offers and sales that occur outside the United States within the meaning of Regulation S under the Securities Act (“Regulation S”) in accordance with Regulation S. The notes have not been registered under the Securities Act or applicable state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws.

Exelon Corporation (NYSE:EXC) is the nation’s leading competitive energy provider, with approximately $33 billion in annual revenues. Headquartered in Chicago, Exelon has operations and business activities in 47 states, the District of Columbia and Canada. Exelon is the largest competitive U.S. power generator, with approximately 35,000 megawatts of owned capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. The company’s Constellation business unit provides energy products and services to approximately 100,000 business and public sector customers and approximately 1 million residential customers. Exelon’s utilities deliver electricity and natural gas to more than 6.6 million customers in central Maryland (BGE), northern Illinois (ComEd) and southeastern Pennsylvania (PECO). Learn more at: www.exeloncorp.com.