Nstar Electric offers $450 million fixed-rate debentures due 2052

By Marisa Wong

Los Angeles, May 12 – Nstar Electric Co., doing business as Eversource Energy, plans to price $450 million of debentures due June 1, 2052, according to a 424B3 filing with the Securities and Exchange Commission.

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

Barclays, BNY Mellon Capital Markets, LLC, BofA Securities, Inc. and U.S. Bancorp Investments, Inc. are the joint bookrunners. Siebert Williams Shank & Co., LLC is a co-manager.

Bank of New York Mellon Trust Co., NA is the trustee.

Ropes & Gray LLP and general counsel of Eversource Energy Service Co. will be counsel to the company. Choate, Hall & Stewart LLP will be counsel to the underwriters.

The company intends to use proceeds to repay outstanding short-term debt, to fund capital expenditures and for working capital. As of May 10, the company had $466.4 million of short-term debt outstanding with a weighted-average annual interest rate at that date of 0.74%.

Eversource Energy is a Boston-based public utility holding company.

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