Edison International issues $550M in Senior Notes

Edison International (NYSE:EIX) has entered into an agreement to issue $550 million in senior notes with a 6.25% interest rate, maturing in 2030. This financial move, detailed in a recent filing with the Securities and Exchange Commission, took place on Monday, with the transaction itself being formalized today. The new issuance adds to the company’s existing debt burden of $37.8 billion, though InvestingPro analysis indicates the utility maintains a solid market capitalization of $22 billion and generates substantial revenue of $17.6 billion.

The California-based electric services company, which operates under the organization name 01 Energy & Transportation, has outlined the terms of the underwriting agreement dated March 11, 2025. The notes are part of a strategic plan to raise capital, and the agreement specifies the conditions under which they are being sold.

The indenture agreement, which was completed today, includes the form of the 6.25% senior notes due in 2030. The agreement was made with unnamed underwriters, and further details of the transaction can be found in the exhibits attached to the SEC filing.

Edison International’s legal counsel, Michael A. Henry, provided an opinion on the transaction, which was also dated today. The company’s Vice President, Chief Accounting Officer, and Controller, Kara G. Ryan, signed off on the filing.

Investors and interested parties can refer to the SEC filing for a deeper understanding of the financial instruments involved and the specifics of the transaction. This move by Edison International reflects its ongoing financial strategies and capital structure management.

It’s important to note that the information provided here is based on the company’s SEC filing and does not include additional commentary or speculation regarding Edison International’s financial health or future market performance.

In other recent news, Edison International reported its fourth-quarter 2024 earnings, revealing an earnings per share (EPS) of $1.05, which fell short of analysts’ expectations of $1.08. The company remains optimistic about its 2025 EPS guidance, projecting a range of $5.94 to $6.34. Additionally, Mizuho (NYSE:MFG) Securities has revised its price target for Edison International, lowering it from $75 to $66, while maintaining an Outperform rating. This adjustment reflects current market conditions and revised company estimates.

Edison International and its subsidiary, Southern California Edison (SCE), are facing lawsuits from the County of Los Angeles and the City of Pasadena, among others, related to the Eaton (NYSE:ETN) Fire. The lawsuits seek compensation for damages caused by the fire, which burned over 14,000 acres. The cause of the fire has not been officially disclosed, and the company has stated it has not determined whether its equipment was involved.

In response to the wildfires, SCE is undertaking extensive inspections of its electrical equipment in Eaton Canyon. These inspections will involve climbing towers, resistance testing, and drone surveillance to assess the condition of the infrastructure. The company is also focusing on rebuilding efforts, which include installing fire-resistant materials and expediting undergrounding projects. Edison International’s ongoing investment in grid hardening and wildfire mitigation remains a priority.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.