EXELON CORP 8-K

What Happened
Exelon Corporation announced on February 20, 2026 that it issued and sold $775 million aggregate principal amount of 4.950% senior notes due March 15, 2036. The Notes were issued under Exelon’s June 11, 2015 indenture as amended by a Ninth Supplemental Indenture dated February 1, 2026, and the company filed the related underwriting agreement and legal opinions with the SEC.

Key Details

• Amount issued: $775,000,000 aggregate principal.
• Coupon & maturity: 4.950% fixed interest, maturing March 15, 2036; interest payable semi‑annually on March 15 and September 15, beginning September 15, 2026.
• Use of proceeds: Net proceeds, together with available cash, will be used to retire the company’s $750 million 3.400% notes due 2026 at maturity; any remainder for general corporate purposes.
• Deal parties / documentation: Underwriting agreement dated February 18, 2026 (BNP Paribas Securities Corp., Morgan Stanley & Co. LLC, Wells Fargo Securities, LLC as reps); legal opinions provided by Ballard Spahr LLP; issuance creates a new direct financial obligation.

Why It Matters
This transaction refinances a near‑term $750 million maturity by replacing it with longer‑dated debt (2036), extending Exelon’s debt maturity profile. Investors should note the new interest rate (4.95%) is higher than the 3.40% rate on the notes being retired, which increases fixed interest expense on the refinanced amount but reduces short‑term refinancing risk. The filing documents the material terms and associated legal and underwriting arrangements for the offering.