Hunton & Williams LLP advised Barclays Capital Inc. and KeyBanc Capital Markets Inc., as representatives of underwriters on an SEC-registered offering by Atlantic City Electric Company (“ACE”) of $150 million aggregate principal amount of its first mortgage bonds due 2024.
ACE is a regulated public utility company engaged in the transmission, distribution and default supply of electricity in Gloucester, Camden, Burlington, Ocean, Atlantic, Cape May, Cumberland and Salem counties in southern New Jersey. ACE’s service territory covers approximately 2,700 square miles and, as of June 30, 2014, had a population of approximately 1.1 million. In 2013, ACE distributed a total of 9.2 million megawatt hours of electricity to 545,000 customers. Approximately 46% of the total megawatt hours were delivered to residential customers and 54% were delivered to commercial and industrial customers. ACE is an indirect wholly-owned subsidiary of Pepco Holdings, Inc.
The Hunton & Williams LLP team included Steve Friend, Christina Kwon and Ben Falk.
