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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, DC 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM 8-K
</B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant
to Section&nbsp;13 or 15(d) </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported) September&nbsp;23, 2013 </B></P>
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<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Commission&nbsp;File</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; width:57.00pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Number</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Exact Name of Registrant as Specified in Its Charter;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>State of Incorporation; Address of Principal Executive</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Offices; and Telephone Number</B></P></TD>
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<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>IRS Employer<BR>Identification&nbsp;Number</B></TD></TR>


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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">000-16844</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>PECO ENERGY COMPANY</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>(a
Pennsylvania corporation)</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">P.O. Box 8699</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2301 Market
Street</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Philadelphia, Pennsylvania 19101-8699</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">(215)
841-4000</P></TD>
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<TD VALIGN="top">23-0970240</TD></TR>
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<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Section&nbsp;1 &#151; Registrant&#146;s Business and Operations </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;1.01. Entry into a Material Definitive Agreement </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On September&nbsp;23, 2013, PECO Energy Company (PECO) issued $300 million aggregate principal amount of its First and Refunding Mortgage Bonds, 1.200% Series
due October&nbsp;15, 2016 and $250 million aggregate principal amount of its First and Refunding Mortgage Bonds, 4.800% Series due October&nbsp;15, 2043. See Item&nbsp;2.03 below for a description of those bonds and related agreements. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Section&nbsp;2 &#151; Financial Information </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On September&nbsp;23, 2013, PECO issued $300 million aggregate principal amount of its First and Refunding Mortgage Bonds, 1.200% Series due October&nbsp;15,
2016 (2016 Bonds) and $250 million aggregate principal amount of its First and Refunding Mortgage Bonds, 4.800% Series due October&nbsp;15, 2043 (2043 Bonds). The bonds were issued pursuant to PECO&#146;s First and Refunding Mortgage, dated as of
May&nbsp;1, 1923, as amended and supplemented and as further amended and supplemented by the One Hundred and Ninth Supplemental Indenture, dated as of September&nbsp;15, 2013 (109<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> Supplemental
Indenture) and by the One Hundred and Tenth Supplemental Indenture, dated as of September&nbsp;15, 2013 (110<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> Supplemental Indenture). The bonds were registered under the Securities Act of 1933,
as amended, pursuant to a shelf registration statement on Form S-3 (Registration No.&nbsp;333-181749-03). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">PECO will use the net proceeds from the sale of
the bonds to pay at maturity $300 million aggregate principal amount of its 5.60% First and Refunding Mortgage Bonds due October&nbsp;15, 2013 and for other general corporate purposes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The 2016 Bonds carry an interest rate of 1.200%&nbsp;per annum, which is payable semi-annually on April&nbsp;15 and October&nbsp;15, commencing on
April&nbsp;15, 2014. The 2016 Bonds are redeemable at any time at PECO&#146;s option as provided in the 109<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> Supplemental Indenture. A copy of the
109<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> Supplemental Indenture, which establishes the terms of the 2016 Bonds, is attached hereto as Exhibit 4.1 and is incorporated herein by reference. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The 2043 Bonds carry an interest rate of 4.800%&nbsp;per annum, which is payable semi-annually on April&nbsp;15 and October&nbsp;15, commencing on
April&nbsp;15, 2014. The 2043 Bonds are redeemable at any time at PECO&#146;s option as provided in the 110<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> Supplemental Indenture. A copy of the
110<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> Supplemental Indenture, which establishes the terms of the 2043 Bonds, is attached hereto as Exhibit 4.2 and is incorporated herein by reference. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with the issuance of the bonds, Ballard Spahr LLP provided PECO with the legal opinions attached to this report as Exhibit 5.1 and Exhibit 8.1.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A copy of the Underwriting Agreement dated September&nbsp;16, 2013 among PECO, Merrill Lynch, Pierce, Fenner&nbsp;&amp; Smith Incorporated, Credit Suisse
Securities (USA) LLC and Wells Fargo Securities, LLC, as representatives of the several underwriters named therein is filed as Exhibit 1.1 to this report. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Section&nbsp;9 &#151; Financial Statements and Exhibits </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;9.01. Financial Statements and Exhibits. </B></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><I>(d) Exhibits. </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following exhibits are filed herewith and are exhibits to the Registration Statement on Form S-3, Registration No.&nbsp;333-181749-03, as noted below: </P>
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<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:39.00pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Registration<BR>Statement<BR>Exhibit No.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:37.25pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Description</P></TD></TR>


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<TD VALIGN="top">&nbsp;&nbsp;1.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&nbsp;&nbsp;1.1.3</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Underwriting Agreement dated September 16, 2013 among PECO, Merrill Lynch, Pierce, Fenner &amp; Smith Incorporated, Credit Suisse Securities (USA) LLC and Wells Fargo Securities, LLC, as representatives of the several
underwriters named therein.</TD></TR>
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<TD VALIGN="top">&nbsp;&nbsp;4.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&nbsp;&nbsp;4.30.2</TD>
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<TD VALIGN="bottom">One Hundred and Ninth Supplemental Indenture dated as of September 15, 2013 from PECO to U.S. Bank National Association, as trustee.</TD></TR>
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<TD VALIGN="top">&nbsp;&nbsp;4.2</TD>
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<TD VALIGN="top">&nbsp;&nbsp;4.30.3</TD>
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<TD VALIGN="bottom">One Hundred and Tenth Supplemental Indenture dated as of September 15, 2013 from PECO to U.S. Bank National Association, as trustee.</TD></TR>
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<TD VALIGN="top">&nbsp;&nbsp;5.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&nbsp;&nbsp;5.1.2</TD>
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<TD VALIGN="bottom">Exhibit 5 Opinion of Ballard Spahr LLP</TD></TR>
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<TD VALIGN="top">&nbsp;&nbsp;8.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&nbsp;&nbsp;8.1.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Exhibit 8 Opinion of Ballard Spahr LLP</TD></TR>
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<TD VALIGN="top">12.1</TD>
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<TD VALIGN="top">12.6.1</TD>
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<TD VALIGN="bottom">Statement regarding computation of the ratio of earnings to fixed charges for the six months ended June 30, 2013</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">* * * * * </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This
Current Report includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. The factors that could cause actual results to differ materially from these
forward-looking statements include those discussed herein as well as those discussed in (1)&nbsp;PECO&#146;s 2012 Annual Report on Form 10-K in (a)&nbsp;ITEM&nbsp;1A. Risk Factors, (b)&nbsp;ITEM&nbsp;7. Management&#146;s Discussion and Analysis of
Financial Condition and Results of Operations and (c)&nbsp;ITEM&nbsp;8. Financial Statements and Supplementary Data: Note 19; (2)&nbsp;PECO&#146;s Second Quarter 2013 Quarterly Report on Form 10-Q in (a)&nbsp;Part II, Other Information,
ITEM&nbsp;1A. Risk Factors, (b)&nbsp;Part 1, Financial Information, ITEM&nbsp;2. Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations and (c)&nbsp;Part I, Financial Information, ITEM&nbsp;1. Financial
Statements: Note 18; and (3)&nbsp;other factors discussed in filings with the Securities and Exchange Commission by PECO. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this
Current Report. PECO does not undertake any obligation to publicly release any revision to its forward-looking statements to reflect events or circumstances after the date of this Current Report. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SIGNATURES </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top"><B>PECO ENERGY COMPANY</B></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Phillip S. Barnett</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Phillip S. Barnett</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Senior&nbsp;Vice&nbsp;President,&nbsp;Chief&nbsp;Financial&nbsp;Officer&nbsp;and</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Treasurer</P></TD></TR>
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<TD VALIGN="top">PECO Energy Company</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">September&nbsp;23, 2013 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT INDEX </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:39.00pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Registration<BR>Statement<BR>Exhibit No.</P></TD>
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<TD VALIGN="top">&nbsp;&nbsp;1.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&nbsp;&nbsp;1.1.3</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Underwriting Agreement dated September 16, 2013 among PECO, Merrill Lynch, Pierce, Fenner &amp; Smith Incorporated, Credit Suisse Securities (USA) LLC and Wells Fargo Securities, LLC, as representatives of the several
underwriters named therein.</TD></TR>
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<TD VALIGN="top">&nbsp;&nbsp;4.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&nbsp;&nbsp;4.30.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">One Hundred and Ninth Supplemental Indenture dated as of September 15, 2013 from PECO to U.S. Bank National Association, as trustee.</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&nbsp;&nbsp;4.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&nbsp;&nbsp;4.30.3</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">One Hundred and Tenth Supplemental Indenture dated as of September 15, 2013 from PECO to U.S. Bank National Association, as trustee.</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&nbsp;&nbsp;5.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&nbsp;&nbsp;5.1.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Exhibit 5 Opinion of Ballard Spahr LLP</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&nbsp;&nbsp;8.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&nbsp;&nbsp;8.1.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Exhibit 8 Opinion of Ballard Spahr LLP</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">12.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">12.6.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Statement regarding computation of the ratio of earnings to fixed charges for the six months ended June 30, 2013</TD></TR>
</TABLE>
</BODY></HTML>
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{"company-data": {"conformed-name": "PECO ENERGY CO", "cik": "0000078100", "assigned-sic": "4931", "irs-number": "230970240", "state-of-incorporation": "PA", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-16844", "film-number": "131109906"}, "business-address": {"street1": "2301 MARKET ST", "street2": "P O BOX 8699", "city": "PHILADELPHIA", "state": "PA", "zip": "19101", "phone": "2158414000"}, "former-company": {"former-conformed-name": "PHILADELPHIA ELECTRIC CO", "date-changed": "19920703"}}
Form 8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) September 23, 2013
Commission File
Number
Exact Name of Registrant as Specified in Its Charter;
State of Incorporation; Address of Principal Executive
Offices; and Telephone Number
IRS Employer
Identification Number
000-16844
PECO ENERGY COMPANY
(a
Pennsylvania corporation)
P.O. Box 8699
2301 Market
Street
Philadelphia, Pennsylvania 19101-8699
(215)
841-4000
23-0970240
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Section 1 — Registrant's Business and Operations
Item 1.01. Entry into a Material Definitive Agreement
On September 23, 2013, PECO Energy Company (PECO) issued $300 million aggregate principal amount of its First and Refunding Mortgage Bonds, 1.200% Series
due October 15, 2016 and $250 million aggregate principal amount of its First and Refunding Mortgage Bonds, 4.800% Series due October 15, 2043. See Item 2.03 below for a description of those bonds and related agreements.
Section 2 — Financial Information
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
On September 23, 2013, PECO issued $300 million aggregate principal amount of its First and Refunding Mortgage Bonds, 1.200% Series due October 15,
2016 (2016 Bonds) and $250 million aggregate principal amount of its First and Refunding Mortgage Bonds, 4.800% Series due October 15, 2043 (2043 Bonds). The bonds were issued pursuant to PECO's First and Refunding Mortgage, dated as of
May 1, 1923, as amended and supplemented and as further amended and supplemented by the One Hundred and Ninth Supplemental Indenture, dated as of September 15, 2013 (109
th
Supplemental
Indenture) and by the One Hundred and Tenth Supplemental Indenture, dated as of September 15, 2013 (110
th
Supplemental Indenture). The bonds were registered under the Securities Act of 1933,
as amended, pursuant to a shelf registration statement on Form S-3 (Registration No. 333-181749-03).
PECO will use the net proceeds from the sale of
the bonds to pay at maturity $300 million aggregate principal amount of its 5.60% First and Refunding Mortgage Bonds due October 15, 2013 and for other general corporate purposes.
The 2016 Bonds carry an interest rate of 1.200% per annum, which is payable semi-annually on April 15 and October 15, commencing on
April 15, 2014. The 2016 Bonds are redeemable at any time at PECO's option as provided in the 109
th
Supplemental Indenture. A copy of the
109
th
Supplemental Indenture, which establishes the terms of the 2016 Bonds, is attached hereto as Exhibit 4.1 and is incorporated herein by reference.
The 2043 Bonds carry an interest rate of 4.800% per annum, which is payable semi-annually on April 15 and October 15, commencing on
April 15, 2014. The 2043 Bonds are redeemable at any time at PECO's option as provided in the 110
th
Supplemental Indenture. A copy of the
110
th
Supplemental Indenture, which establishes the terms of the 2043 Bonds, is attached hereto as Exhibit 4.2 and is incorporated herein by reference.
In connection with the issuance of the bonds, Ballard Spahr LLP provided PECO with the legal opinions attached to this report as Exhibit 5.1 and Exhibit 8.1.
A copy of the Underwriting Agreement dated September 16, 2013 among PECO, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Credit Suisse
Securities (USA) LLC and Wells Fargo Securities, LLC, as representatives of the several underwriters named therein is filed as Exhibit 1.1 to this report.
Section 9 — Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
The following exhibits are filed herewith and are exhibits to the Registration Statement on Form S-3, Registration No. 333-181749-03, as noted below:
Exhibit
No.
Registration
Statement
Exhibit No.
Description
1.1
1.1.3
Underwriting Agreement dated September 16, 2013 among PECO, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Credit Suisse Securities (USA) LLC and Wells Fargo Securities, LLC, as representatives of the several
underwriters named therein.
4.1
4.30.2
One Hundred and Ninth Supplemental Indenture dated as of September 15, 2013 from PECO to U.S. Bank National Association, as trustee.
4.2
4.30.3
One Hundred and Tenth Supplemental Indenture dated as of September 15, 2013 from PECO to U.S. Bank National Association, as trustee.
5.1
5.1.2
Exhibit 5 Opinion of Ballard Spahr LLP
8.1
8.1.2
Exhibit 8 Opinion of Ballard Spahr LLP
12.1
12.6.1
Statement regarding computation of the ratio of earnings to fixed charges for the six months ended June 30, 2013
* * * * *
This
Current Report includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. The factors that could cause actual results to differ materially from these
forward-looking statements include those discussed herein as well as those discussed in (1) PECO's 2012 Annual Report on Form 10-K in (a) ITEM 1A. Risk Factors, (b) ITEM 7. Management's Discussion and Analysis of
Financial Condition and Results of Operations and (c) ITEM 8. Financial Statements and Supplementary Data: Note 19; (2) PECO's Second Quarter 2013 Quarterly Report on Form 10-Q in (a) Part II, Other Information,
ITEM 1A. Risk Factors, (b) Part 1, Financial Information, ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations and (c) Part I, Financial Information, ITEM 1. Financial
Statements: Note 18; and (3) other factors discussed in filings with the Securities and Exchange Commission by PECO. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this
Current Report. PECO does not undertake any obligation to publicly release any revision to its forward-looking statements to reflect events or circumstances after the date of this Current Report.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
PECO ENERGY COMPANY
/s/ Phillip S. Barnett
Phillip S. Barnett
Senior Vice President, Chief Financial Officer and
Treasurer
PECO Energy Company
September 23, 2013
EXHIBIT INDEX
Exhibit
No.
Registration
Statement
Exhibit No.
Description
1.1
1.1.3
Underwriting Agreement dated September 16, 2013 among PECO, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Credit Suisse Securities (USA) LLC and Wells Fargo Securities, LLC, as representatives of the several
underwriters named therein.
4.1
4.30.2
One Hundred and Ninth Supplemental Indenture dated as of September 15, 2013 from PECO to U.S. Bank National Association, as trustee.
4.2
4.30.3
One Hundred and Tenth Supplemental Indenture dated as of September 15, 2013 from PECO to U.S. Bank National Association, as trustee.
5.1
5.1.2
Exhibit 5 Opinion of Ballard Spahr LLP
8.1
8.1.2
Exhibit 8 Opinion of Ballard Spahr LLP
12.1
12.6.1
Statement regarding computation of the ratio of earnings to fixed charges for the six months ended June 30, 2013