Jersey Central Power & Light Company Announces Extension of Exchange Offer for its 4.150% Senior Notes due 2029, 4.400% Senior Notes due 2031 and 5.150% Senior Notes due 2036

Rhea-AI Summary

Jersey Central Power & Light (subsidiary of FirstEnergy, NYSE: FE) extended its registered exchange offer for three senior note series: 4.150% due 2029 ($350M), 4.400% due 2031 ($500M) and 5.150% due 2036 ($500M).

The expiry moved from June 1 to June 15, 2026, 5:00 p.m. NYC time. About 99.6067% of outstanding notes had been tendered by June 1, 2026.

Positive

• Exchange offer covers up to $1.35 billion total senior notes
• Approximately 99.6067% of outstanding notes tendered by June 1, 2026
• New notes are registered under the Securities Act of 1933

Negative

• None.

News Market Reaction – FE

-0.13%

-0.13% Session close to close

In the Jun 2 session, FE declined 0.13%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement extends JCP&L’s exchange offer for its 4.150%, 4.400% and 5.150% Senior Notes, cov...

Analysis

This announcement extends JCP&L’s exchange offer for its 4.150%, 4.400% and 5.150% Senior Notes, covering up to $1.35 billion of debt across 2029–2036 maturities. It is structured as a registration-based swap into new notes under an effective Form S‑4. In the wider context, parent FirstEnergy has outlined a $36 billion 2026–2030 investment plan and registered up to $3,000,000,000 of securities on a shelf, so monitoring future financing steps and regulatory outcomes remains important.

Key Figures

2029 Notes Principal: $350 million 2031 Notes Principal: $500 million 2036 Notes Principal: $500 million +5 more

8 metrics

2029 Notes Principal $350 million Outstanding 4.150% Senior Notes due 2029 eligible for exchange

2031 Notes Principal $500 million Outstanding 4.400% Senior Notes due 2031 eligible for exchange

2036 Notes Principal $500 million Outstanding 5.150% Senior Notes due 2036 eligible for exchange

Coupon 2029 Notes 4.150% Interest rate on Senior Notes due 2029

Coupon 2031 Notes 4.400% Interest rate on Senior Notes due 2031

Coupon 2036 Notes 5.150% Interest rate on Senior Notes due 2036

Tendered Outstanding Notes $1,344,690.00 Aggregate principal amount reportedly tendered (99.6067% of Outstanding Notes)

JCP&L Customers 1.2 million Customers served by JCP&L in New Jersey counties

Historical Context

5 past events · Latest: May 26 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
May 26	Ohio rate plan filing	Positive	+0.3%	Three-year Ohio rate plan funding reliability upgrades and customer support programs.
May 18	WV rate review request	Positive	+1.1%	Mon Power and Potomac Edison seek revenue adjustments to support reliability investments.
Apr 28	Q1 2026 earnings	Positive	-1.3%	Stronger Q1 earnings, higher Core EPS and reaffirmed guidance and capital plan.
Apr 27	Community initiative	Neutral	+0.1%	Tree giveaway and community garden support for Earth and Arbor Day in Pennsylvania.
Apr 23	Planned Ohio TYRP	Positive	+2.5%	Planned Ohio three‑year rate plan with ~$800M annual grid and $83M tree-trimming spend.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent operational and regulatory updates have generally seen modest positive price reactions, with one earnings-related divergence where shares slipped despite strong results and reaffirmed guidance.

Recent Company History

Over recent months, FE has focused on regulated investment plans and earnings stability. Ohio and West Virginia subsidiaries outlined multi‑year rate plans with about $800 million in annual grid upgrades and targeted revenue adjustments of $76M–$188M. Q1 2026 results showed GAAP EPS of $0.70 and Core EPS of $0.72, alongside a reaffirmed $36 billion 2026–2030 capital plan. Against this backdrop, JCP&L’s exchange offer extension fits within broader balance sheet and infrastructure positioning rather than a change in growth strategy.

Key Terms

exchange offer, senior notes, registration statement on form s-4, forward-looking statements, +3 more

7 terms

exchange offer financial

"announced that it had extended its offer (the "exchange offer") to exchange up to"

An exchange offer is a proposal where a company asks investors to swap existing securities, like bonds or shares, for new ones, often with different terms or maturity dates. It matters to investors because it can affect the value of their holdings and the company's financial strategy, potentially providing benefits like better interest rates or reduced debt.

senior notes financial

"$350 million aggregate principal amount of its outstanding 4.150% Senior Notes due 2029"

Senior notes are a type of loan that a company borrows from investors, promising to pay it back with interest. They are called "senior" because in case the company faces financial trouble, these lenders are paid back before others. This makes senior notes safer for investors compared to other types of loans or bonds.

registration statement on form s-4 regulatory

"filed with the Securities and Exchange Commission as part of the Company's Registration Statement on Form S-4"

A registration statement on Form S-4 is a formal filing with the U.S. Securities and Exchange Commission used when a company issues shares or other securities as part of a merger, acquisition, exchange offer or similar corporate deal. It bundles the transaction terms, financial statements, risk factors and shareholder vote materials so investors can assess the deal; think of it as a detailed prospectus or buyer’s packet that explains what you would own and how the deal could change your stake.

forward-looking statements regulatory

"Statements in this document regarding JCP&L that are not historical facts are "forward-looking statements""

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

form 10-k regulatory

"contained in any subsequent reports on Form 10-K, Form 10-Q or Form 8-K."

A Form 10-K is a comprehensive report that publicly traded companies are required to file annually with regulators. It provides a detailed overview of a company's financial health, operations, and risks, similar to a detailed health report. Investors use this information to assess the company's performance and make informed decisions about buying or selling its stock.

form 10-q regulatory

"contained in any subsequent reports on Form 10-K, Form 10-Q or Form 8-K."

A Form 10-Q is a detailed report that publicly traded companies are required to file with regulators three times a year, providing an update on their financial health and business activities. It is important for investors because it offers timely insights into a company's performance, helping them make informed decisions about buying or selling stocks. Think of it as a regular check-up report that shows how well a company is doing.

form 8-k regulatory

"contained in any subsequent reports on Form 10-K, Form 10-Q or Form 8-K."

A Form 8-K is a report that companies file with the government to share important news quickly, such as changes in leadership, major business deals, or financial updates. It matters because it helps investors stay informed about significant events that could affect the company's value or stock price.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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MORRISTOWN, N.J., June 2, 2026 /PRNewswire/ -- Jersey Central Power & Light Company ("JCP&L" or the "Company") a subsidiary of FirstEnergy Corp., today announced that it had extended its offer (the "exchange offer") to exchange up to (i) $350 million aggregate principal amount of its outstanding 4.150% Senior Notes due 2029, (ii) $500 million aggregate principal amount of its outstanding 4.400% Senior Notes due 2031 and (iii) $500 million aggregate principal amount of its outstanding 5.150% Senior Notes due 2036 (collectively, the "Outstanding Notes") for a like principal amount of each of the Company's (i) 4.150% Senior Notes due 2029, (ii) 4.400% Senior Notes due 2031 and (iii) 5.150% Senior Notes due 2036 (collectively, the "New Notes") registered under the Securities Act of 1933, as amended.

The exchange offer, previously scheduled to expire at 5:00 p.m., New York City time, on June 1, 2026, will now expire at 5:00 p.m., New York City time, on June 15, 2026, unless further extended.  An aggregate principal amount of $1,344,690.00, or 99.6067%, of the Outstanding Notes, was tendered in the exchange offer as of 5:00 p.m., New York City time, on June 1, 2026.

The terms of the exchange offer are set forth in a prospectus dated April 30, 2026. Copies of the prospectus and the other exchange offer documents may be obtained from the exchange agent:

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.
By Mail or in Person
The Bank of New York Mellon Trust Company, N.A.
c/o The Bank of New York Mellon
Corporate Trust Reorg Unit
500 Ross Street
Suite 625
Pittsburgh, PA, 15262
Attn: Susanne Michalik
For Email (for Eligible Institutions Only)
Email: ct_reorg_unit_inquiries@bnymellon.com
For Information and to Confirm by Telephone
412-236-4893

This news release is for informational purposes only and is neither an offer to buy or sell nor a solicitation of an offer to buy or sell any Outstanding Notes or New Notes. The exchange offer is being made only pursuant to the exchange offer prospectus, which is being distributed to holders of the Outstanding Notes and has been filed with the Securities and Exchange Commission as part of the Company's Registration Statement on Form S-4 (File No. 333-294955), which was declared effective on April 23, 2026.

JCP&L serves 1.2 million customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on X @JCP_L, on Facebook at facebook.com/JCPandL or online at jcp-l.com.

FirstEnergy Corp. (NYSE: FE) is dedicated to integrity, safety, reliability and operational excellence. Its electric distribution companies form one of the nation's largest investor-owned electric systems, serving more than six million customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on X @FirstEnergyCorp or online at firstenergycorp.com.

Discussion of Forward-Looking Statements About JCP&L: Statements in this document regarding JCP&L that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company's business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, JCP&L undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see JCP&L's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Cautionary Note Regarding Forward-Looking Statements set forth in these filings and any updates to such risk factors and Cautionary Note Regarding Forward-Looking Statements contained in any subsequent reports on Form 10-K, Form 10-Q or Form 8-K.

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SOURCE Jersey Central Power & Light

FAQ

What did Jersey Central Power & Light announce about its 2026 senior notes exchange offer (FE)?

Jersey Central Power & Light extended its registered exchange offer for three series of senior notes. According to Jersey Central Power & Light, holders can exchange outstanding notes for like principal amounts of registered notes with the same interest rates and maturities.

What is the new expiration date for JCP&L's senior notes exchange offer in 2026 (FE)?

The exchange offer now expires on June 15, 2026, at 5:00 p.m. New York City time. According to Jersey Central Power & Light, this replaces the previous June 1, 2026 expiration, unless the offer is further extended.

How much of JCP&L's outstanding senior notes has been tendered in the 2026 exchange offer (FE)?

Approximately 99.6067% of the outstanding notes had been tendered by June 1, 2026. According to Jersey Central Power & Light, this reflects strong participation across the 2029, 2031 and 2036 senior note series included in the exchange offer.

Which JCP&L senior notes are included in the 2026 registered exchange offer for FE investors?

The offer covers 4.150% senior notes due 2029, 4.400% notes due 2031 and 5.150% notes due 2036. According to Jersey Central Power & Light, aggregate principal amounts are $350 million, $500 million and $500 million, respectively.

Does the 2026 JCP&L exchange offer change interest rates or maturities of its senior notes (FE)?

The exchange offer does not change interest rates or maturities; terms remain the same. According to Jersey Central Power & Light, holders swap unregistered outstanding notes for registered new notes with identical principal amounts, coupons and due dates.

Under what securities registration is JCP&L's 2026 senior notes exchange offer being conducted (FE)?

The new notes are registered under the Securities Act of 1933, as amended. According to Jersey Central Power & Light, the exchange offer uses a prospectus dated April 30, 2026, filed within its effective Form S-4 registration statement.