By Lisa Kerner
Charlotte, N.C., Feb. 22 - Unitil Corp. priced $15 million of first mortgage bonds on Dec. 18 with a 5.24% coupon, according to a form 10-K filed with the Securities and Exchange Commission.
The private placement of the 10-year bonds is expected to close in March.
Unitil said its subsidiary Northern Utilities Inc. also priced $25 million principal amount of senior unsecured notes on Dec. 18.
The notes bear interest at 5.29% and mature in 2020.
That private placement is also expected to close in March. Banc of America Securities LLC and RBC Securities Inc. are the agents.
Proceeds from both placements will be used to repay short-term debt and for general corporate purposes, the company said.
Unitil is a Hampton, N.H.-based public utility holding company. Northern Utilities is a natural gas distributor.
| Issuer: | Unitil Corp.
|
| Issue: | First mortgage bonds
|
| Amount: | $15 million
|
| Maturity: | 10 years
|
| Coupon: | 5.24%
|
| Pricing date: | Dec. 18
|
| Distribution: | Private placement
|
|
|
| Issuer: | Northern Utilities Inc.
|
| Issue: | Senior unsecured notes
|
| Amount: | $25 million
|
| Maturity: | 10 years
|
| Coupon: | 5.29%
|
| Agents: | Banc of America Securities LLC and RBC Securities Inc.
|
| Pricing date: | Dec. 18
|
| Distribution: | Private placement
|
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