Hunton Andrews Kurth Advises Underwriters on $533,265,000 Offering of Senior Secured Recovery Bonds, Series 2022-A

Hunton Andrews Kurth LLP acted as counsel to the structuring advisor and underwriters on an SEC-registered offering of $533,265,000 aggregate principal amount of Senior Secured Recovery Bonds, Series 2022-A (the Bonds) by SCE Recovery Funding LLC, as “Issuing Entity”, a special purpose entity, wholly-owned by Southern California Edison Company (SCE), as sponsor and depositor. The Bonds received a sustainable bond designation and were sold pursuant to a financing order issued by the California Public Utilities Commission. The Bond proceeds will be used to purchase recovery property from SCE. In accordance with the financing order, SCE will use the proceeds to reimburse itself for previously incurred recovery costs, which are expenditures related to minimizing the impacts on SCE’s customers that result from elevated wildfire risk and its impact on SCE’s service areas and the areas in which it operates through adaptive measures.

The Hunton Andrews Kurth team included Michael Fitzpatrick, Adam O’Brian and Michelle G. Chan. Jason Harbour assisted with certain bankruptcy advice, Shawn Regan and Kate Perkins assisted with certain constitutional law matters and Cary Tolley and Anna Page provided tax advice.