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Unitil Energy prices $30M offering of bonds

Unitil Energy Systems Inc. priced $30 million of its 4.18% series Q first mortgage bonds due 2048. The bonds will be sold to institutional investors in a private placement.

The Unitil Corp. subsidiary plans to use net proceeds to repay short-term debt and for general corporate purposes, according to a Sept. 4 Form 8-K filing.

The company expects to close the long-term financing in the fourth quarter, subject to execution of the definitive documentation and funding of the commitments.