Southern California Edison Announces $1.954B Senior Secured Recovery Bonds

What Happened
Southern California Edison Company and its affiliate SCE Recovery Funding LLC entered into an Underwriting Agreement on July 21, 2026, with RBC Capital Markets, Barclays, Citigroup and J.P. Morgan as representatives of the underwriters to sell $1,953,948,000 of Senior Secured Recovery Bonds, Series 2026-A. The bonds are to be issued under an Indenture dated as of July 28, 2026 and were offered pursuant to a prospectus dated July 2, 2026. The Underwriting Agreement and related documents are attached as exhibits to the company’s Form 8‑K.

Key Details

• Size: $1,953,948,000 of Senior Secured Recovery Bonds, Series 2026-A.
• Agreement date: Underwriting Agreement signed July 21, 2026; Indenture dated as of July 28, 2026.
• Underwriters: Led by RBC Capital Markets, Barclays Capital, Citigroup Global Markets and J.P. Morgan Securities.
• Offering: The bonds were offered pursuant to the prospectus dated July 2, 2026.

Why It Matters
This filing documents a large, secured debt issuance tied to SCE’s recovery financing structure. For investors, the transaction is material because it affects SCE’s financing and capital structure and provides details (amount, timing, underwriters) needed to track how the company is raising funds. Retail investors should review the prospectus and future filings for pricing, interest rate, covenants, use of proceeds and any potential impact on credit metrics.