By Lisa Kerner
Charlotte, N.C., Aug. 2 – Unitil Corp. privately placed $30 million of 3.7% 10-year senior notes, series 2016, according to an 8-K filed with the Securities and Exchange Commission.
BofA Merrill Lynch is the agent.
Proceeds will be used to make capital contributions to one or more of Unitil’s utility subsidiaries, to refinance existing short-term debt and for general corporate purposes.
Purchasers included Metropolitan Life Insurance Co., Lincoln Benefit Life Co., United of Omaha Life Insurance Co. and Companion Life Insurance Co.
The notes have a make-whole call at Treasuries plus 50 basis points.
The New England gas and electric utility is based in Hampton, N.H.
| Issuer: | Unitil Corp.
|
| Issue: | Senior notes, series 2016
|
| Amount: | $30 million
|
| Maturity: | Aug. 1, 2026
|
| Coupon: | 3.7%
|
| Call: | Make-whole call at Treasuries plus 50 bps
|
| Agent: | BofA Merrill Lynch
|
| Settlement date: | Aug. 1
|
| Distribution: | Private placement
|
| Purchasers: | Metropolitan Life Insurance Co., Lincoln Benefit Life Co., United of Omaha Life Insurance Co., Companion Life Insurance Co.
|
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