By Andrea Heisinger
New York, Dec. 9 - Public Service Co. of New Hampshire priced $150 million of 4.5% 10-year first mortgage bonds on Wednesday to yield 115 basis points over Treasuries, according to an FWP filing with the Securities and Exchange Commission.
The notes (A3/BBB+/BBB+) priced at 99.613 to yield 4.549%. They include a make-whole call at Treasuries plus 20 bps.
Bank of America Merrill Lynch and Bank of New York Mellon Capital Markets LLC were the bookrunners.
The senior co-manager was Mitsubishi UFJ Securities. The co-managers were Ramirez & Co. and Williams Capital Group LP.
Proceeds will be used to refinance short-term debt and for working capital.
The electric subsidiary of Northeast Utilities is based in Manchester, N.H.
| Issuer: | Public Service Co. of New Hampshire
|
| Issue: | First mortgage bonds
|
| Amount: | $150 million
|
| Maturity: | Dec. 1, 2019
|
| Bookrunners: | Bank of America Merrill Lynch, Bank of New York Mellon Capital Markets LLC
|
| Senior co-manager: | Mitsubishi UFJ Securities
|
| Co-managers: | Ramirez & Co., Williams Capital Group LP
|
| Coupon: | 4.5%
|
| Price: | 99.613
|
| Yield: | 4.549%
|
| Spread: | Treasuries plus 115 bps
|
| Call: | Make-whole at Treasuries plus 20 bps
|
| Trade date: | Dec. 9
|
| Settlement date: | Dec. 14
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: BBB+
|
| Fitch: BBB+
|
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