New Issue: Hubbell sells $300 million 3.15% 10-year senior notes at 95 bps over Treasuries

By Cristal Cody

Tupelo, Miss., July 31 – Hubbell Inc. priced $300 million of 3.15% 10-year senior notes (Baa1/A/A) on Monday at 99.2 to yield 3.244% and a spread of 95 basis points over Treasuries, according to an FWP filed with the Securities and Exchange Commission.

J.P. Morgan Securities LLC and BofA Merrill Lynch were the bookrunners.

Proceeds will be used to redeem the company’s $300 million of 5.95% senior notes due 2018 and for general corporate purposes.

The electrical and electronic products company is based in Shelton, Conn.

Issuer:	Hubbell Inc.
Amount:	$300 million
Description:	Senior notes
Maturity:	Aug. 15, 2027
Bookrunners:	J.P. Morgan Securities LLC and BofA Merrill Lynch
Senior co-manager:	HSBC Securities (USA) Inc.
Co-managers:	BNY Mellon Capital Markets, LLC, Citigroup Global Markets Inc., TD Securities (USA) LLC, Citizens Capital Markets, Inc., U.S. Bancorp Investments, Inc., Wells Fargo Securities, LLC and Williams Capital Group, LP
Coupon:	3.15%
Price:	99.2
Yield:	3.244%
Spread:	Treasuries plus 95 bps
Call features:	Make-whole call at Treasuries plus 15 bps before May 15, 2027; thereafter at par
Change-of-control put:	101%
Trade date:	July 31
Settlement date:	Aug. 3
Ratings:	Moody’s: Baa1
	S&P: A
	Fitch: A
Distribution:	SEC registered

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