Essential Utilities to price fixed-rate senior notes due 2034

By William Gullotti

Buffalo, N.Y., Jan. 4 – Essential Utilities, Inc. plans to price dollar-denominated fixed-rate senior notes due 2034, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will feature a make-whole call followed by a par call.

RBC Capital Markets, LLC and Barclays are the joint bookrunning managers.

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

Morgan, Lewis & Bockius LLP and Ballard Spahr LLP will act as counsel for the issuer. Cravath, Swaine & Moore LLP is advising the underwriters.

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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