Filed Pursuant to Rule 433
Registration Statement No. 333-111476
March 13, 2006
PRICING TERM SHEET
Issuer: | Boston Edison Company |
Ratings: | A1 (Moody’s); A (S&P); AA- (Fitch) |
Issue of Securities: | 5.75% Debentures due 2036 |
Principal Amount: | $200,000,000 |
Coupon: | 5.75% per annum |
Interest Payment Dates: | Semi-annually on March 15 and September 15, commencing September 15, 2006 |
Maturity: | March 15, 2036 |
Treasury Benchmark: | 5.375% due February 15, 2031 |
US Treasury Yield: | 4.875% |
Spread to Treasury: | 0.95% |
Re-offer Yield: | 5.825% |
Initial Price to Public: | per Debenture:98.943%; Total: $197,886,000 |
Underwriters’ Discount: | per Debenture: 0.875%; Total: $1,750,000 |
Proceeds, before expenses, to us: | per Debenture:98.068%; Total: $196,136,000 |
Optional Redemption: | Make Whole Treasury Rate + 20 basis points |
Minimum Denomination: | $1,000 |
Settlement Date: | March 16, 2006 (T+3) |
CUSIP: | 100599BW8 |
Underwriters: | Banc of America Securities LLC ($54,666,667) |
Citigroup Global Markets Inc. ($54,666,667) |
J.P. Morgan Securities Inc. ($54,666,666) |
BNY Capital Markets, Inc. ($6,000,000) |
Goldman, Sachs & Co. ($6,000,000) |
Greenwich Capital Markets, Inc. ($6,000,000) |
KeyBanc Capital Markets, a division of McDonald Investments Inc. ($6,000,000) |
Lazard Capital Markets LLC ($6,000,000) |
Wachovia Capital Markets, LLC ($6,000,000) |
The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Banc of America Securities LLC at 1-800-294-1322, Citigroup Global Markets Inc. toll-free at 1-877-858-5407 or J.P. Morgan Securities Inc. collect at 1-212-834-4533.
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