By Aleesia Forni
Virginia Beach, Nov. 6 - Public Service Co. of New Hampshire priced $250 million of first mortgage bonds, series S, due 2023 with a spread of Treasuries plus 90 basis points, according to an FWP filed with the Securities and Exchange Commission on Wednesday.
The notes (A/A3/A) were priced at 99.634 to yield 3.544%.
Barclays and Mizuho Securities USA Inc. were the joint bookrunners.
Proceeds will be used to redeem the company's $89.25 million Business Finance Authority of the State of New Hampshire 4.75% pollution control revenue bonds, to refinance short-term debt and for general working capital purposes.
The subsidiary of Northeast Utilities is based in Manchester, N.H.
| Issuer: | Public Service Co. of New Hampshire
|
| Amount: | $250 million
|
| Description: | First mortgage bonds
|
| Maturity: | Nov. 1, 2023
|
| Bookrunners: | Barclays, Mizuho Securities USA Inc.
|
| Co-managers: | BNY Capital Markets LLC, RBS Securities Inc., U.S. Bancorp Investments Inc., Samuel A. Ramirez & Co. Inc.
|
| Coupon: | 3.5%
|
| Price: | 99.634
|
| Yield: | 3.544%
|
| Spread: | Treasuries plus 90 bps
|
| Trade date: | Nov. 6
|
| Settlement date: | Nov. 14
|
| Ratings: | Moody's: A
|
| Standard & Poor's: A3
|
| Fitch: A
|
| Make-whole call: | Treasuries plus 15 bps prior to Aug. 1, 2023, then callable at par
|
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