New Issue-Public Service E&G sells $350 first mortgage bonds

Mon Sep 10, 2012 2:33pm EDT

SEPT 10 (Reuters) - Public Service Electric & Gas (PEG)
 on Monday sold $350 million of first mortgage bonds,
said IFR, a Thomson Reuters service. 
    Credit Suisse, JP Morgan, Morgan Stanley and RBS were the
joint bookrunning managers for the sale.

BORROWER: PUBLIC SERVICE ELECTRIC & GAS 

AMT $350 MLN    COUPON 3.65 PCT    MATURITY    09/01/2042
TYPE FMB        ISS PRICE 99.51    FIRST PAY   03/01/2013 
MOODY'S A1      YIELD 3.677 PCT    SETTLEMENT  09/13/2012   
S&P A-MINUS     SPREAD 85 BPS      PAY FREQ    SEMI-ANNUAL
FITCH A-PLUS    MORE THAN TREAS    MAKE-WHOLE CALL 15 BPS
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