Public Service of New Hampshire to redeem $89.25 million 4.75% bonds

By Tali David

Minneapolis, Nov. 6 - The Business Finance Authority of the State of New Hampshire plans to use the proceeds from a first mortgage bond offering to redeem $89.25 million of its 4.75% 2001 tax-exempt series B Public Service Co. of New Hampshire project pollution control revenue bonds, according to a 424B3 filed with the Securities and Exchange Commission.

Proceeds will also be used to pay the associated call premium, to refinance its short-term debt previously incurred in the ordinary course of business and for general working capital purposes.

As of Nov. 1, there was $215.8 million of short-term debt outstanding.

Public Service is a Manchester, N.H.-based electric subsidiary of Northeast Utilities.

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