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Connecticut Light will price $200 million tap of 3.2% bonds due 2027
By Devika Patel
Knoxville, Tenn., Sept. 10 – Connecticut Light and Power Co., doing business as Eversource Energy, is eyeing an additional $200 million sale of its 3.2% first and refunding mortgage bonds, 2017 series A, due March 15, 2027, according to a 424B3 filed with the Securities and Exchange Commission.
The company sold $300 million of the bonds at 99.66 to yield 3.24% with a spread of Treasuries plus 75 bps in a sale that priced on March 2, 2017 and settled on March 10, 2017.
The notes have a make-whole call at Treasuries plus 15 bps until Dec. 15, 2026 and then are callable at par.
Mizuho Securities USA Inc. and MUFG are the bookrunners. Samuel A. Ramirez & Co. Inc. is the co-manager.
Proceeds will be used to refinance short-term debt, for capital expenditures and for working capital.
The electric subsidiary of Northeast Utilities is based in Berlin, Conn.
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