Company Overview of Commonwealth Edison Company
Commonwealth Edison Company engages in the purchase and regulated retail sale of electricity. The company provides electricity distribution and transmission services to retail customers in Northern Illinois, including the City of Chicago. As of December 31, 2015, its electric distribution system consisted of 35,419 circuit miles of overhead lines and 31,040 circuit miles of underground lines. The company was founded in 1887 and is based in Chicago, Illinois. Commonwealth Edison Company operates as a subsidiary of Exelon Corporation.
440 South LaSalle Street
Chicago, IL 60605
Founded in 1887
Key Executives for Commonwealth Edison Company
Chief Executive Officer, President, Director and Member of Executive Committee
Chief Financial Officer, Senior Vice President and Treasurer
Chief Operating Officer and Executive Vice President
Chairman, Member of Executive Committee, Chief Executive Officer of Exelon Corporation and President of Exelon Corporation
Senior Vice President of Regulatory & Energy Policy and General Counsel
Compensation as of Fiscal Year 2016.
Commonwealth Edison Company Key Developments
ComEd Reports Earnings Results for the Second Quarter of 2016
Aug 9 16
ComEd reported earnings results for the second quarter of 2016. For the quarter, the company’s GAAP Net Income was $145 million compared with $99 million in the second quarter of 2015. Adjusted operating earnings were $146 million compared to $101 million a year ago.
ComEd Announces $1.2 Billion Bond Sale
Jun 21 16
ComEd announced that it has priced $1.2 billion aggregate principal amount of its First Mortgage Bonds, comprised of $500 million 10-year bonds and $700 million 30-year bonds maturing on June 15, 2026 and June 15, 2046, respectively. The 10-year bonds have a coupon of 2.550% and the 30-year bonds have a coupon of 3.650%. ComEd will use the net proceeds from the sale of the bonds to refinance outstanding principal amounts of long term debt, repay a portion of outstanding commercial paper obligations and for general corporate purposes. The sale is scheduled to close on June 27, 2016. Citigroup Global Markets Inc., Mizuho Securities USA Inc. and U.S. Bancorp Investments Inc. led the offering as active joint book-running managers. CIBC World Markets Corp., Credit Agricole Securities (USA) Inc. and PNC Capital Markets, LLC served as passive joint book-running managers and Santander Investment Securities Inc. served as a senior co-manager. Minority-owned Blaylock Beal Van, LLC, Great Pacific Securities, Loop Capital Markets, LLC and disabled veteran-owned Drexel Hamilton, LLC served as co-managers for the offering.
Exelon Corporation, Exelon Generation Company, LLC, Commonwealth Edison Company, PECO Energy Company and Baltimore Gas and Electric Company Enter into Amendments to Syndicated Revolving Credit Facilities
May 27 16
On May 26, 2016, Exelon Corporation, Exelon Generation Company, LLC, Commonwealth Edison Company, PECO Energy Company and Baltimore Gas and Electric Company entered into amendments to each of their respective syndicated revolving credit facilities, which extended the maturity of each of the facilities to May 26, 2021. Exelon also increased the size of its facility from $500 million to $600 million.
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