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[$$] SCE Pays Up in Bond Sale, Showing Impact of State Fires

Southern California Edison Co. agreed to pay higher interest rates Tuesday to borrow money than it did last year, underscoring the continuing fallout from the wildfires that forced a rival utility into bankruptcy. After first reaching out to debt investors on Friday, the Rosemead, Calif.-based company sold $1.1 billion of 10- and 30-year secured bonds Tuesday afternoon, meeting strong demand from investors lured by unusually high yields for utility-company debt. Southern California Edison sold $500 million of 10-year bonds at a 1.65 percentage-point yield premium, or spread, to Treasurys, along with $600 million of 30-year bonds at a 1.9 percentage-point spread.