ComEd plans debt sale

ComEd, the Chicago-based electric utility owned by Exelon Corp., plans to sell $500 million of bonds tied to its property mortgages as soon as today, according to a person familiar with the offering.

The three-year securities may pay about 75 basis points more than similar-maturity Treasuries, said the person, who declined to be identified because terms aren't set. Proceeds may be used to pay for pension contributions, the person said.

The notes may be rated Baa1 by Moody's Investors Service and A- by Standard & Poor's, the person said.

Commonwealth Edison last sold bonds on July 26, when it offered $500 million of 4 percent notes due August 2020 at a yield 100 basis points more than similar-maturity Treasuries, according to data compiled by Bloomberg.

A basis point is 0.01 percentage point.