Eversource Energy intends to price senior notes due February 2029

By William Gullotti

Buffalo, N.Y., Nov. 8 – Public Service Co. of New Hampshire, doing business as Eversource Energy, intends to price series CC senior notes due Feb. 1, 2029, according to a 424B3 filing with the Securities and Exchange Commission.

The company may call the notes early with a make-whole premium until Jan. 1, 2029, followed by a par call until maturity.

Barclays, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, MUFG Securities Americas Inc. and U.S. Bancorp Investments, Inc. are the joint bookrunning managers.

Samuel A. Ramirez & Co., Inc. and Siebert Williams Shank & Co., LLC are the co-managers.

Bank of New York Mellon Trust Co., NA is the trustee.

Eversource will use in-house counsel and Ropes & Gray LLP. The underwriters are relying on Choate, Hall & Stewart LLP for legal matters on the issue.

Proceeds will be used to repay all $400 million outstanding 3.8% series N senior notes at maturity on Dec. 1 and to repay a portion of outstanding short-term debt. As of Nov. 6, the outstanding short-term debt totaled approximately $1.53 billion with a weighted average interest rate of 5.53%.

Public Service Co. of New Hampshire is a Manchester, N.H.-based wholly owned subsidiary of Eversource Energy. Eversource is based in Boston and Hartford, Conn. The company is an energy delivery business that operates through utility subsidiaries throughout New England.

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