By Cristal Cody
Tupelo, Miss., Sept. 23 – New York State Electric & Gas Corp. sold $200 million of 1.95% 10-year senior notes (A3/A-/A-) on Wednesday at a spread of Treasuries plus 130 basis points, according to a market source.
Initial price talk was in the Treasuries plus 150 bps area.
Credit Agricole Securities (USA) Inc., Mizuho Securities USA Inc. and NatWest Markets Securities Inc. were the bookrunners.
The energy utility is based in Binghamton, N.Y.
Issuer: | New York State Electric & Gas Corp.
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Amount: | $200 million
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Description: | Senior notes
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Maturity: | Oct. 1, 2030
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Bookrunners: | Credit Agricole Securities (USA) Inc., Mizuho Securities USA Inc. and NatWest Markets Securities Inc.
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Coupon: | 1.95%
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Spread: | Treasuries plus 130 bps
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Trade date: | Sept. 23
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Ratings: | Moody’s: A3
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| S&P: A-
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| Fitch: A-
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Price guidance: | Treasuries plus 150 bps area
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