Edison About to Offer $1.2 Billion in Bonds
Edison International is expected to issue $1.2 billion in bonds this week in a refinancing that will allow it to pay off bank loans that come due Saturday. But Rosemead-based Edison will pay a steep rate for the money.
The bonds are expected to pay as much as 13%, well above the rate for other high-yield, or junk, investments. Investors are demanding the high rate because they fear the company could be dragged into bankruptcy by losses at its Southern California Edison utility.
