Nov 13 (Reuters) - The Cleveland Electric Illuminating
Company, a unit of Akron, Ohio-based FirstEnergy Corp,
on Thursday sold $300 million in 10-year first mortgage bonds,
market sources said.
Morgan Stanley, Credit Suisse and JP Morgan were the active joint bookrunning managers for the sale.
Barclays Capital, RBS Greenwich Capital, and Scotia Capital were the passive joint bookrunning managers for the sale.
BORROWER: THE CLEVELAND ILLUMINATING COMPANY
AMT $300 MLN COUPON 8.875 PCT MATURITY 11/15/2018 TYPE 1ST MTG BDS ISS PRICE 100 FIRST PAY 5/15/2009 MOODY'S Baa2 YIELD 8.875 PCT SETTLEMENT 11/18/2008 S&P BBB-PLUS SPREAD 513.6 BPS PAY FREQ SEMI-ANNUAL FITCH N/A MORE THAN TREAS MAKE-WHOLE CALL 50 BPS
Keywords: CLEVELANDELECTRIC DEBT/NOTES (New Issue by Thomson Reuters; +1-646-223-6886 e-mail: uscorpbonds@reuters.com) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Morgan Stanley, Credit Suisse and JP Morgan were the active joint bookrunning managers for the sale.
Barclays Capital, RBS Greenwich Capital, and Scotia Capital were the passive joint bookrunning managers for the sale.
BORROWER: THE CLEVELAND ILLUMINATING COMPANY
AMT $300 MLN COUPON 8.875 PCT MATURITY 11/15/2018 TYPE 1ST MTG BDS ISS PRICE 100 FIRST PAY 5/15/2009 MOODY'S Baa2 YIELD 8.875 PCT SETTLEMENT 11/18/2008 S&P BBB-PLUS SPREAD 513.6 BPS PAY FREQ SEMI-ANNUAL FITCH N/A MORE THAN TREAS MAKE-WHOLE CALL 50 BPS
Keywords: CLEVELANDELECTRIC DEBT/NOTES (New Issue by Thomson Reuters; +1-646-223-6886 e-mail: uscorpbonds@reuters.com) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.