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Today, Public Service Electric and Gas Company (PSE&G), an energy and transportation organization headquartered in New Jersey, announced the successful completion of a public offering of secured medium-term notes totaling $900 million. This financial move involves two series of notes: $400 million of 5.050% notes due in 2035, and $500 million of 5.500% notes due in 2055.
The offering, which was finalized on Monday, was made under PSE&G’s existing registration statement and related prospectus, with the pricing supplements dated February 27, 2025. The notes were sold on the New York Stock Exchange under the symbols PEG37D for the 8.00% bonds due 2037 and PEG37J for the 5.00% bonds due 2037.
As part of the offering process, PSE&G filed the legal opinion of John C. Walmsley, Associate Counsel of PSEG Services Corporation, which confirms the legality of the notes. This legal opinion is incorporated by reference into the registration statement.
This strategic financial decision by PSE&G is part of its ongoing efforts to secure funds for its operations and future investments. The notes are secured, giving bondholders a level of protection by being backed by the company’s assets.
Investors interested in the specifics of the notes and their legal backing can refer to the exhibits attached to the company’s SEC filing, which include the opinion of John C. Walmsley and his consent, as well as the cover page interactive data file.
This financial activity is based on information contained in a press release statement from PSE&G and is intended to provide investors with the key details regarding the new offering without any speculative or promotional content.
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