Delmarva Power & Light Issues $150M in First Mortgage Bonds

What Happened
Delmarva Power & Light Company (DPL) filed an 8-K (signed Sept 16, 2026) disclosing that on March 19, 2026 it entered a Bond Purchase Agreement and subsequently sold a total of $150 million of First Mortgage Bonds. The offering consisted of $75 million of 5.00% bonds due September 16, 2036 and $75 million of 5.74% bonds due March 19, 2056. The sale closed on September 16, 2026. DPL said it intends to use proceeds to repay existing indebtedness and for general corporate purposes.

Key Details

• Bond Purchase Agreement entered: March 19, 2026.
• Bonds issued: $75M 5.00% Series due Sept 16, 2036; $75M 5.74% Series due March 19, 2056 (total $150M).
• Closing date of sale: September 16, 2026.
• Securities exemption: Offered and sold in reliance on Section 4(a)(2) of the Securities Act; issued under DPL’s Mortgage and Deed of Trust and a Supplemental Indenture dated March 1, 2026.

Why It Matters
This filing documents DPL’s issuance of $150 million in long‑term debt with fixed interest rates and long maturities, and confirms the company’s stated use of proceeds to pay down existing debt and for general corporate needs. Investors should note the size, coupon rates, and maturities because they establish future interest obligations and affect the company’s debt profile. The filing also includes the customary forward‑looking statement caution and references DPL’s broader risk disclosures in its Form 10‑K and other SEC reports.