By Sarah Lizee
Olympia, Wash., May 18 – New Jersey Natural Gas Co. arranged a $125 million private placement of senior notes consisting of $50 million of 3.13% senior notes, series 2020A, due June 30, 2050, $50 million of 3.13% senior notes, series 2020B, due July 23, 2050 and $25 million of 3.33% senior notes, series 2020C, due July 23, 2060, according to an 8-K filing with the Securities and Exchange Commission.
The sale of the series 2020A notes is expected to close on June 30, and the sale of the series 2020B and 2020C notes is expected to close on July 23.
The proceeds will be used for general corporate purposes.
New Jersey Natural Gas is a subsidiary of Wall, N.J.-based New Jersey Resources Corp., which provides natural gas services and renewable energy to the New England area.
| Issuer: | New Jersey Natural Gas Co.
|
| Issue: | Senior notes
|
| Amount: | $125 million
|
| Call: | Make-whole call
|
| Pricing date: | May 14
|
| Distribution: | Private placement
|
|
|
| Series 2020A notes
|
| Amount: | $50 million
|
| Maturity: | June 30, 2050
|
| Coupon: | 3.13%
|
|
|
| Series 2020B
|
| Amount: | $50 million
|
| Maturity: | July 23, 2050
|
| Coupon: | 3.13%
|
|
|
| Series 2020C
|
| Amount: | $25 million
|
| Maturity: | July 23, 2060
|
| Coupon: | 3.33%
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
