Consolidated Edison, Inc. (NYSE: ED) announced today it has agreed to issue 7,200,000 of its common shares. These common shares are being offered by BofA Securities under Con Edison's effective shelf registration statement filed with the Securities and Exchange Commission. The underwriter may offer the common shares in transactions on the New York Stock Exchange LLC, in the over-the-counter market or through negotiated transactions at market prices or at negotiated prices. The common shares are expected to be issued on December 4, 2020, subject to customary closing conditions.

Con Edison expects to use the net proceeds from the sale of the common shares to repay a portion of its existing term loan.