By Cristal Cody
Tupelo, Miss., Nov. 13 – NStar Electric Co. sold $250 million of 3.25% 10-year debentures at 99.519 to yield 3.307% on Friday, according to an FWP filing with the Securities and Exchange Commission.
The debentures (A2/A/A+) priced with a spread of 102 basis points over Treasuries.
Goldman Sachs & Co., BofA Merrill Lynch, MUFG and Mizuho Securities USA Inc. were the bookrunners.
Proceeds will be used to repay outstanding short-term debt, to fund capital expenditures and for working capital.
NStar Electric is a subsidiary of Boston-based Eversource Energy.
| Issuer: | NStar Electric Co.
|
| Amount: | $250 million
|
| Maturity: | Nov. 15, 2025
|
| Securities: | Debentures
|
| Bookrunners: | Goldman Sachs & Co., BofA Merrill Lynch, MUFG, Mizuho Securities USA Inc.
|
| Co-manager: | Samuel A. Ramirez & Co. Inc.
|
| Coupon: | 3.25%
|
| Price: | 99.519
|
| Yield: | 3.307%
|
| Spread: | 102 bps over Treasuries
|
| Make-whole call: | Prior to Aug. 15, 2025 at Treasuries plus 15 bps; on or after Aug. 15, 2025 at par
|
| Trade date: | Nov. 13
|
| Settlement date: | Nov. 18
|
| Ratings: | Moody’s: A2
|
| Standard & Poor’s: A
|
| Fitch: A+
|
| Distribution: | SEC registered
|
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