Constellation Energy Repays $500 Million, 6.125 Percent Bond
BALTIMORE, Sep 02, 2009 (BUSINESS WIRE) -- Constellation Energy (NYSE: CEG) today announced that it has repaid a $500 million, 6.125 percent fixed-rate bond. The company said repayment of the bond without refinancing underscores significant improvement in its available liquidity.
"At the start of the year, we committed to a comprehensive plan to improve liquidity and strengthen the balance sheet and we are successfully executing against that plan," said Jonathan W. Thayer, chief financial officer and senior vice president, Constellation Energy. "Our core businesses are performing well and delivering strong cash flows. We continue to strengthen our credit metrics and position the company for a strong future."
About Constellation Energy
Constellation Energy (www.constellation.com) is a leading supplier of energy products and services to wholesale and retail electric and natural gas customers. It owns a diversified fleet of generating units located throughout the United States, totaling more than 9,100 megawatts of generating capacity, and is among the leaders pursuing the development of new nuclear plants in the United States. The company delivers electricity and natural gas through the Baltimore Gas and Electric Company (BGE), its regulated utility in Central Maryland. A FORTUNE 500 company headquartered in Baltimore, Constellation Energy had revenues of $19.8 billion in 2008.
Forward-Looking Statements
We make statements in this news release that are considered forward-looking statements within the meaning of the Securities Exchange Act of 1934. These statements are not guarantees of our future performance and are subject to risks, uncertainties and other important factors that could cause our actual performance or achievements to be materially different from those we project. For a full discussion of these risks, uncertainties and factors, we encourage you to read our documents on file with the Securities and Exchange Commission, including the disclosures set forth in our periodic reports under the forward-looking statements and risk factors sections. Except as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE: Constellation Energy
Constellation Energy
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