Company: SCE-PL
Filing Date: 2025-01-07
Form Type: 424B5
Source: 0001193125-25-002794
Chunk: 37

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-01-07
Form: 424B5
Chunk 37
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 issue $16.37 billion of bonds pursuant to clause (c) ( i.e.$24.56 billion x .6666 = $16.37 billion). The aggregate amount of bonds which we could issue under clauses (a) and (c) above would, if other conditions were met, be approximately $16.37 billion. As of June 30, 20214 we had $28.1 billion of our first mortgage bonds outstanding (including the first mortgage bonds issued to secure $751.9 million of pollution control bonds). Furthermore, in addition to the first mortgage bond indenture’s bondable property requirement described in clause (c) above, the first mortgage bond indenture also provides that additional first mortgage bonds may not be issued unless our net earnings (as defined) for twelve months shall have been at least two and one-half(2.5x) times our total annual first mortgage bond interest charge. At June 30, 2024, under the net earnings test we could issue $17.8 billion of additional first mortgage bonds (based on net earnings for the year ended June 30, 2024). Notwithstanding the net earnings requirement, additional first mortgage bonds may be issued under the provisions referred to in (a) and (b) above under some circumstances involving, among other things, issuance of bonds not bearing a higher interest rate than the bonds to be retired, issuance of bonds to pay or redeem bonds maturing within two years and issuance of bonds on the basis of acquisition, redemption or other retirement of underlying bonds. Additional first mortgage bonds may not be issued under the provisions referred to in paragraphs (c) and (d) above during any period when indebtedness secured by a prior lien on acquired utility property has not been established as underlying bonds. Other than the security afforded by the lien of the first mortgage bond indenture and restrictions on the issuance of additional bonds described above, there are no provisions of the first mortgage bond indenture which afford holders of the first mortgage bonds protection against us increasing our ratio of total debt to total “bondable” assets. 5

Defaults and Other Provisions The first mortgage bond indenture provides that the following are defaults:

| • |     | default in payment of principal; |

| • |     | default for 60 days in payment of interest or satisfaction of the special trust fund obligation; |

| • |     | default under our covenants and conditions in the first mortgage bond indenture or in the bonds for 60 days 
 after written notice by