PITTSBURGH and PHILADELPHIA, June 13, 2025: Morgan Lewis advised FirstEnergy in a Rule 144A offering of an aggregate of $2.5 billion in convertible senior notes, representing the largest-ever utility convertible debt offering, and repurchase of approximately $1.2 billion of FirstEnergy’s outstanding convertible senior notes due 2026. The offering priced on June 9, 2025, and closed on June 12, 2025.
Partners Celia Soehner, Jim McKenzie, and Andrew Budreika advised FirstEnergy, along with associates Maria Natera, Ben Stango, Annie Reynolds, and Marco DiLeonardo.
FirstEnergy is one of the nation's largest investor-owned electric systems, serving more than 6 million customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland, and New York.