New Issue: Connecticut Light sells $250 million 4.3% 30-year bonds at Treasuries plus 82 bps

By Aleesia Forni

Virginia Beach, April 14 – Connecticut Light and Power Co. sold $250 million of 4.3% first and refunding mortgage bonds (A2/A/A), 2014 series A, due April 15, 2044 at 82 basis points over Treasuries, according to a market source and a FWP filing with the Securities and Exchange Commission.

The joint bookrunners were Barclays, Goldman Sachs & Co., Citigroup Global Markets Inc., TD Securities (USA) LLC and U.S. Bancorp Investments Inc.

Proceeds will be used to refinance short-term debt.

The electric subsidiary of Northeast Utilities is based in Berlin, Conn.

Issuer:	Connecticut Light and Power Co.
Amount:	$250 million
Description:	First and refunding mortgage bonds, 2014 series A
Maturity:	April 15, 2044
Bookrunners:	Barclays, Goldman Sachs & Co., Citigroup Global Markets Inc., TD Securities (USA) LLC, U.S. Bancorp Investments Inc.
Co-manager:	Samuel A. Ramirez & Co., Inc.
Coupon:	4.3%
Price:	Par
Yield:	4.3%
Spread:	Treasuries plus 82 bps
Trade date:	April 14
Settlement date:	April 24
Ratings:	Moody's: A2
	Standard & Poor's: A
	Fitch: A
Price talk:	Treasuries plus 85 bps area
Make-whole call:	Treasuries plus 12.5 bps prior to Oct. 15, 2043, then callable at par
Distribution:	SEC-registered

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