Connecticut Light plans to price $500 million mortgage bonds due 2048

By Devika Patel

Knoxville, Tenn., March 19 – Connecticut Light and Power Co. doing business as Eversource Energy will sell $500 million of first and refunding mortgage bonds, 2018 series A, due 2048, according to a 424B3 filed with the Securities and Exchange Commission.

Fitch said it has assigned an A+ rating to the notes.

The notes have a make-whole call initially, and then are callable at par.

Barclays, BofA Merrill Lynch, Mizuho Securities USA Inc. and MUFG are the bookrunners. Samuel A. Ramirez & Co. Inc. is the co-manager.

Proceeds will be used to repay at maturity all of $300 million of the company’s 5.65% first and refunding mortgage bonds, 2008 series A, due May 1, 2018 and repay short-term debt.

The electric subsidiary of Northeast Utilities is based in Berlin, Conn.

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