Baltimore Gas and Electric Company Announces $300 Million Note Sale


Baltimore Gas and Electric Company Announces $300 Million Note Sale

BALTIMORE--(BUSINESS WIRE)-- Baltimore Gas and Electric Company (BGE) today announced that it has priced $300 million of 10-year notes, maturing on July 1, 2023, with a coupon of 3.35 percent. BGE will use the net proceeds from the sale of the notes to partially repay, at maturity, our $400 million 6.125 percent notes due July 1, 2013, and for general corporate purposes. The sale is scheduled to close on June 17.

BNP Paribas Securities Corp., J.P. Morgan Securities LLC and Scotia Capital (USA) Inc. led the offering as active joint book-running managers. Goldman, Sachs & Co. and CIBC served as passive joint book-running managers, PNC Capital Markets LLC as senior co-manager, and Loop Capital Markets and MFR Securities, Inc. as co-managers on the offering.

BGE's offering demonstrates its continuing support for diversity and inclusion on the offering with the participation of Loop Capital Markets, a minority-owned firm and MFR Securities, Inc., a woman-owned firm.

An automatic shelf registration statement relating to the sale of the notes became effective upon filing with the Securities and Exchange Commission on May 29, 2012. The offering is being made by means of a prospectus supplement and an accompanying prospectus. Copies of the prospectus supplement and accompanying prospectus relating to the offering may be obtained from BNP Paribas Securities Corp., 787 Seventh Avenue, New York, NY 10019, Attention: Syndicate Desk, (phone no.: (800) 854-5674; J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10179, Attention: Investment Grade Syndicate - 3rd Floor (phone no.: (212) 834-4533, and Scotia Capital (USA) Inc., 165 Broadway, 25th Floor, New York, NY 10017, Attention: Debt Capital Markets (phone no.: (800) 372-3930. This announcement does not constitute an offer to sell, or the solicitation of an offer to buy, any of these securities.

Cautionary Statements Regarding Forward-Looking Information

This press release contains certain 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 the forward-looking statements made by Baltimore Gas and Electric Company (Registrant) include those factors discussed herein, as well as the items discussed in (1) Exelon's 2012 Annual Report on Form 10-K in (a) ITEM 1A. Risk Factors, (b) ITEM 7. Management's Discussion and Analysis of Financial Condition and Results of Operations and (c) ITEM 8. Financial Statements and Supplementary Data: Note 19; (2) Exelon's First 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. Management's Discussion and Analysis of Financial Condition and Results of Operations and (c) Part I, Financial Information, ITEM 1. Financial Statements: Note 17; and (3) other factors discussed in filings with the SEC by the Registrant. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this press release. The Registrant 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 press release.

BGE, headquartered in Baltimore, is Maryland's largest gas and electric utility, delivering power to more than 1.2 million electric customers and approximately 656,000 natural gas customers in central Maryland. The company's approximately 3,400 employees are committed to the safe and reliable delivery of gas and electricity, as well as enhanced energy management, conservation, environmental stewardship and community assistance. BGE is a subsidiary of Exelon Corporation (NYS: EXC) , the nation's leading competitive energy provider, with 2012 revenues of approximately $23.5 billion.

Baltimore Gas and Electric Company (BGE)
Debra Larsson,
Rachael Lighty,
BGE Media Hotline: 410-470-7433

KEYWORDS: United States North America Maryland


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