Exelon 2014 Annual Report Download - page 106

Debt.
See Note 13—Debt and Credit Agreements of the Combined Notes to Consolidated Financial Statements for further details of the
Registrants’ debt issuances and retirements. Debt activity for 2014, 2013 and 2012 by Registrant was as follows:
During the year ended December 31, 2014, the following long term debt was issued:
Company Type Interest Rate Maturity Amount Use of Proceeds
Exelon Junior Subordinated Notes (a) 2.50% June 1, 2024 $1,150 Used to finance a portion of the
acquisition of PHI and for general
corporate purposes
Generation Nuclear Fuel Procurement
Contract
3.35% June 30, 2018 38 Used for procurement of uranium
Generation ExGen Renewables I
Nonrecourse Debt (b)
LIBOR + 4.25% February 6, 2021 300 Used for general corporate
purposes
Generation ExGen Texas Power Nonrecourse
Debt (b)
LIBOR + 4.75% September 18, 2021 675 Used for general corporate
purposes
Generation Energy Efficiency Project
Financing
4.12% December 31, 2015 12 Funding to install energy
conservation measures in
Washington, DC
Generation AVSR DOE Nonrecourse Debt (b) 2.78 - 3.14% January 5, 2037 126 Used for Antelope Valley solar
development
Generation Nuclear Fuel Procurement
Contract
3.25% June 30, 2018 32 Used for procurement of uranium
ComEd First Mortgage Bonds Series 115 2.15% January 15, 2019 300 Used to refinance maturing
mortgage bonds and general
corporate purposes
ComEd First Mortgage Bonds Series 116 4.70% January 15, 2044 350 Used to refinance maturing
mortgage bonds and general
corporate purposes
ComEd First Mortgage Bonds Series 117 3.10% November 1, 2024 250 Used to repay commercial paper
and general corporate purposes
PECO First and Refunding Mortgage
Bonds
4.15% October 1, 2044 300 Used to repay at maturity first and
refunding mortgage bonds due
October 1, 2014, and general
corporate purposes
(a) See Note 13—Debt and Credit Agreements of the Combined Notes to Consolidated Financial Statements for discussion of the Junior Subordinated Notes and related
forward equity purchase contract, which are expected to be remarketed in 2017.
(b) See Note 13—Debt and Credit Agreements of the Combined Notes to Consolidated Financial Statements for discussion of nonrecourse debt.
On January 13, 2015, Generation issued $750 million in aggregate principal amount of Senior Notes. The Senior Notes carry an
annual interest rate of 2.950%, payable semi-annually, commencing July 15, 2015 and due January 15, 2020. The proceeds of the
Senior Notes will be used to fund the optional redemption of Exelon’s $550 million, 4.550% Senior Notes due June 15, 2015,
expected to occur on February 17, 2015, and for general corporate purposes. In addition to the issuance, Exelon terminated floating-
to-fixed interest rate swaps that had been designated as cash flow hedges. As the original forecasted transactions were a series of
future interest payments over a ten year period, a portion of the anticipated interest payments at this time are probable not to occur.
As a result Exelon will reclassify $26 million of deferred losses in AOCI to Other, net in the first quarter of 2015.
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