By Aleesia Forni
Virginia Beach, Oct. 6 – Public Service Co. of New Hampshire priced a $75 million add-on to its existing 3.5% first mortgage bonds (A2/A/A), series S, due Nov. 1, 2023 at Treasuries plus 73 basis points, according to a market source and an FWP filed with the Securities and Exchange Commission on Wednesday.
Pricing was at 102.719 to yield 3.144%.
Mizuho Securities USA Inc. and RBS Securities Inc. were the joint bookrunners.
Proceeds from the offering will be used to refinance short-term debt.
The original $250 million issue was sold on Nov. 6, 2013 at Treasuries plus 90 bps.
The subsidiary of Northeast Utilities is based in Manchester, N.H.
| Issuer: | Public Service Co. of New Hampshire
|
| Amount: | $75 million
|
| Description: | Add-on to 3.5% notes due 2023
|
| Maturity: | Nov. 1, 2023
|
| Bookrunners: | Mizuho Securities USA Inc., RBS Securities Inc.
|
| Co-manager: | Ramirez & Co. Inc.
|
| Coupon: | 3.5%
|
| Price: | 102.719
|
| Yield: | 3.144%
|
| Spread: | Treasuries plus 73 bps
|
| Make-whole call: | Treasuries plus 15 bps prior to Aug. 1, 2023, then callable at par
|
| Trade date: | Oct. 6
|
| Settlement date: | Oct. 14
|
| Ratings: | Moody’s: A2
|
| Standard & Poor's: A
|
| Fitch: A
|
| Distribution: | SEC registered
|
| Price talk: | Treasuries plus 75 bps area
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
