trending Market Intelligence /marketintelligence/en/news-insights/trending/hqe1eoAjNw28mHnsh42kig2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In this list

Connecticut Light and Power sells $300M of mortgage bonds

Case Study: A Utility Company Efficiently Sharpens Its Focus on the Credit Risk of New Customers

Energy Evolution Podcast

Energy Evolution Why solar energy could get even cheaper

Energy Evolution Podcast

US energy officials push innovation to meet evolving energy needs

Energy Evolution Podcast

Energy futurist sees major challenges for renewables in next 30 years


Connecticut Light and Power sells $300M of mortgage bonds

Connecticut Light and Power Co. sold $300 million of 4% series 2018A first and refunding mortgage bonds due April 1, 2048.

The bonds will be part of the same series of securities the Eversource Energy subsidiary issued in March 2018 in an amount of $500 million.

The electric utility plans to use the proceeds to refinance short-term debt, including debt that was used to repay at maturity $250 million of its outstanding 5.50% first and refunding mortgage bonds 2009 series A due Feb. 1, fund capex and working capital. As of March 21, the utility had approximately $55 million of short-term debt outstanding.

Interest on the bonds is payable semiannually on April 1 and Oct. 1, starting Oct. 1. The bonds have a spread to benchmark Treasury of 100 basis points and were expected to be rated A1 by Moody's, AA- by S&P Global Ratings and A+ by Fitch Ratings, according to a March 25 free writing prospectus.

J.P. Morgan Securities LLC, Mizuho Securities USA LLC, MUFG Securities Americas Inc. and Wells Fargo Securities LLC acted as joint book-running managers. Samuel A. Ramirez & Co. Inc. served as the sole co-manager.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.