Connecticut Light to sell first and refunding mortgage bonds due 2029

By Mary Katherine Stinson

Lexington, Ky., Jan. 16 – Connecticut Light and Power Co., doing business as Eversource Energy, is set to price first and refunding mortgage bonds, 2024 series A, due Jan. 1, 2029, according to a 424B3 filing with the Securities and Exchange Commission.

The bonds will feature a make-whole call option until Dec. 1, 2028, followed by a par call option for the last month.

BofA Securities, Inc., BNY Mellon Capital Markets, LLC, Goldman Sachs & Co. LLC, Mizuho Securities USA LLC, TD Securities (USA) LLC and Wells Fargo Securities, LLC are the joint bookrunners.

Samuel A Ramirez & Co., Inc. and Siebert Williams Shank & Co., LLC are also listed as co-managers.

Deutsche Bank Trust Co. Americas is the trustee.

Ropes & Gray LLP and in-house counsel will advise the issuer. Choate, Hall & Stewart LLP is listed as counsel to the underwriters.

Proceeds will be used to refinance short-term debt, to fund capital expenditures and for working capital. As of Jan. 11, the company had approximately $383.9 million of short-term debt outstanding, which had an average weighted annual interest rate of 5.54%.

The electric wholly owned subsidiary of Massachusetts-based Eversource Energy is based in Berlin, Conn.

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