Public Service Enterprise Group (PEG) on Wednesday sold a $500 million two-part offering of senior unsecured notes.

The deal includes five- and 10-year notes and was sold via active bookrunners Barclays Capital and Citigroup.

The five-year piece was sold with a 2.75% coupon at a price of 99.746 to yield 2.805% and had a risk premium of 190 basis points over Treasurys.

The 10-year tranche was priced with a 4.15% coupon at a price of 99.911 to yield 4.161% and had a spread of 215 basis points over Treasurys.

Proceeds will be used for general corporate purposes, which could include the repayment of outstanding debt securities.

The deal has been rated Baa1 by Moody's Investors Service and BBB by Standard & Poor's.

-By Kellie Geressy-Nilsen, Dow Jones Newswires; 212 416-2225; kellie.geressy@dowjones.com

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