Exelon Corporation (Nasdaq: EXC) announced plans to offer $900 million in convertible senior notes due 2029 through a private placement. Initial purchasers will also have a 13-day option to buy an additional $100 million.

The company plans to use the proceeds to repay or refinance debt or for general corporate purposes. The notes will be senior unsecured obligations, convertible under certain conditions, with semiannual interest payments.

The offering is limited to qualified institutional buyers under Rule 144A and will not be registered under U.S. securities laws. Exelon emphasized that the announcement does not constitute an offer or solicitation to sell the securities.