SoCalEd prices wildfire recovery ABS

Southern California Edison 575x375
By Richard Metcalf
18 Feb 2021

Southern California Edison has priced its first securitization in more than 20 years, the proceeds of which it will use to finance upgrades and other costs associated with its wildfire prevention program.

Barclays and RBC Capital Marketswere the bookrunners on the $338m offering, which comprised three tranches with various maturity dates but the same triple-A ratings across the board from the three main rating agencies.

The $138 million shortest-dated tranche, which has a legal maturity in November 2033, was priced at ...

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