Eversource aims to conduct $600 million two-part offering of notes

By Devika Patel

Knoxville, Tenn., March 2 – Eversource Energy and Connecticut Light and Power Co., doing business as Eversource Energy, will offer $600 million of notes in two parts, according to a 424B3 filed with the Securities and Exchange Commission.

The notes will be sold in two equal fixed-rate tranches of senior notes, series K, due March 15, 2022 and first and refunding mortgage bonds, 2017 series A, due March 15, 2027. The 2027 notes will be offered by Connecticut Light.

The 2022 notes will feature a make-whole call until Feb. 15, 2022 and then a par call.

The 2027 notes will feature a make-whole call and then a par call.

Barclays, Goldman Sachs & Co., J.P. Morgan Securities LLC, TD Securities (USA) LLC and U.S. Bancorp Investments Inc. are the bookrunners.

PNC Capital Markets LLC is the senior co-manager, and Samuel A. Ramirez & Co. Inc. is the co-manager.

Proceeds will be used to repay some of Eversource’s $1.14 billion of short-term debt, some of Connecticut Light’s $152.1 million of short-term debt and for working capital.

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

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