Eversource offers $300 million green debentures due 2051; talk Treasuries plus 105-110 bps area

By Devika Patel and Cristal Cody

Knoxville, Tenn., May 24 – Nstar Electric Co., doing business as Eversource Energy, is selling $300 million of green debentures due June 1, 2051 (//A+), according to a 424B3 filing with the Securities and Exchange Commission.

The securities are talked to yield in the Treasuries plus 105 basis points to 110 bps area, according to a market source.

The debentures feature a make-whole call and then a par call.

Barclays, MUFG, PNC Capital Markets LLC and RBC Capital Markets LLC are the bookrunners. Samuel A. Ramirez & Co. Inc. is the co-manager.

Proceeds will be used for eligible green expenditures.

The Boston-based company is engaged in the energy delivery business through utility subsidiaries.

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