Essential Utilities offers fixed-rate senior notes due 2052

By Marisa Wong

Los Angeles, May 18 – Essential Utilities, Inc. plans to price dollar-denominated fixed-rate senior notes due 2052, according to a 424B5 filing with the Securities and Exchange Commission.

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

PNC Capital Markets LLC, BofA Securities, Inc. and Wells Fargo Securities, LLC are the joint bookrunners.

U.S. Bank Trust Co., NA is the trustee.

Simpson Thacher & Bartlett LLP and Ballard Spahr LLP will act as counsel for the issuer.

Proceeds will be used to repay borrowings under the company’s revolving credit facilities and for general corporate purposes.

Essential Utilities is a Bryn Mawr, Pa.-based holding company for regulated utilities, providing water, wastewater or natural gas services to customers in Pennsylvania, Ohio, Texas, Illinois, North Carolina, New Jersey, Indiana, Virginia, West Virginia and Kentucky under the Aqua and Peoples brands.

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