Long Island Lighting Co.'s expected $451 million offering today should help it put $446 million of bank debt to rest.

Lilco's 30-year debentures are expected to be noncallable for 10 years. Price talk is 140 to 145 basis points over comparable Treasuries, sources familiar with the offering said.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.