By Andrea Heisinger
Omaha, May 19 - Public Service Co. of New Hampshire priced $110 million of 6% 10-year first mortgage bonds on Monday to yield Treasuries plus 215 basis points, a market source said.
The notes (Baa1/BBB+/BBB+) priced at 99.762 to yield 6.033%. They have a make-whole redemption option of Treasuries plus 35 bps.
Bookrunners were Barclays Capital Inc. and BNY Capital Markets.
Co-managers were TD Securities and Wedbush Morgan Securities Inc.
Proceeds will be used to refinance short-term debt and for general working capital.
The electric company is based in Manchester, N.H.
| Issuer: | Public Service Co. of New Hampshire
|
| Issue: | First mortgage bonds
|
| Amount: | $110 million
|
| Maturity: | May 1, 2018
|
| Bookrunners: | Barclays Capital Inc., BNY Capital Markets
|
| Co-managers: | TD Securities, Wedbush Morgan Securities Inc.
|
| Coupon: | 6%
|
| Price: | 99.762
|
| Yield: | 6.033%
|
| Spread: | Treasuries plus 215 bps
|
| Call: | Make-whole at Treasuries plus 35 bps
|
| Trade date: | May 19
|
| Settlement date: | May 27
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB+
|
| Fitch: BBB+
|
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