Constellation Energy must repay the principal amount of the Junior Subordinated Debentures, together with any accrued and unpaid interest, on the maturity date. The maturity date for the Junior Subordinated Debentures is initially June 15, 2063, but will be automatically extended, without the consent of the holders of Junior Subordinated Debentures, for an additional quarterly period on each of March 15, June 15, September 15 and December 15 beginning June 15, 2013 and through and including March 15, 2018, unless (i) earlier redeemed or (ii) prior to any such date, Constellation Energy elects to discontinue the automatic extension of the maturity date as described in this prospectus supplement. If the maturity date is automatically extended on all of these dates, the Junior Subordinated Debentures will mature on June 15, 2068.
Constellation Energy may defer interest payments on the Junior Subordinated Debentures on one or more occasions for up to 10 consecutive years as described in this prospectus supplement. Deferred interest payments will accrue additional interest at a rate equal to the interest rate on the Junior Subordinated Debentures, compounded on each interest payment date, to the extent permitted by applicable law.
Constellation Energy may redeem the Junior Subordinated Debentures at its option at the times and the prices described in this prospectus supplement.
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Exelon is a utility services holding company. Through its subsidiaries, Commonwealth Edison Company, PECO Energy Company, Baltimore Gas and Electric Company, Potomac Electric Power Company, Delmarva Power & Light Company, and Atlantic City Electric Company, Co. engages in the energy distribution and transmission businesses. Co.'s subsidiary, Exelon Business Services Company, LLC, provides support services including legal, human resources, financial, information technology, and supply management services. Co.'s subsidiary, PHI Service Company, provides support services including legal, finance, engineering, customer operations, distribution and transmission planning, and power procurement. Preferreds: PE.PRC, PE.PRA, PE.PRB, PE.PRD, BGE.PRB, CEG.PRA Open the EXC Information Page » |
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