PSEG Power Launches Retail Bond Program
January 13 2009 - 7:32AM
PR Newswire (US)
NEWARK, N.J., Jan. 12 /PRNewswire-FirstCall/ -- PSEG Power
announced that it has filed a prospectus supplement with the
Securities and Exchange Commission for the issuance of up to $500
million of PSEG Power investment-grade, unsecured corporate bonds
through Incapital's InterNotes(R) program. Bank of America
Securities LLC and Incapital LLC will act as joint lead managers
and lead agents of the InterNotes(R) program. Beginning January 12,
2009, the bonds rated "BBB" by Standard & Poor's and "Baa1" by
Moody's, are being offered from time to time at the discretion of
PSEG Power direct to investors through a retail distribution
network comprised of 550 broker-dealers. PSEG Power InterNotes(R)
are unsecured medium-term notes for sale to retail investors and
will generally be offered at par in $1,000 increments. PSEG Power
InterNotes(R) provide individual investors with a variety of rates,
maturity dates and interest payment options. A prospectus related
to the offering of the bonds is available to investors through
co-agents and Incapital's national bond network. Co-agents include
Charles Schwab & Company, Inc., Citi, Fidelity Capital Markets,
a division of National Financial Services, LLC, Merrill Lynch &
Co., Morgan Stanley, RBC Dain Rauscher, Inc., UBS Securities LLC,
and Wachovia Securities. This announcement does not constitute an
offer to sell or a solicitation of an offer to buy the bonds, which
may be made by a written prospectus obtained by the agents listed
above. The bonds will not be sold in any state or jurisdiction in
which such an offer, solicitation or sale would be unlawful. Copies
of the prospectus and related prospectus supplement for the
offering to which this communication relates may be obtained from
the Securities and Exchange Commission website at
http://www.sec.gov/ or Banc of America Securities LLC at
1-800-294-1322 (toll free) or Incapital LLC at 1-800-289-6689 (toll
free). Public Service Enterprise Group (PSEG) is a publicly traded
diversified energy company with three principal subsidiaries: PSEG
Power, Public Service Electric and Gas Company (PSE&G) and PSEG
Energy Holdings. PSEG Power, one of the largest independent power
producers in the U.S. has three main subsidiaries: PSEG Fossil,
PSEG Nuclear, and PSEG Energy Resources & Trade. DATASOURCE:
PSEG Power CONTACT: Mike Jennings, +1-973-430-6406, or
+1-973-508-6386 (cell), for PSEG Power
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