Eversource Energy intends to price senior notes due 2031, 2034

By Mary Katherine Stinson

Lexington, Ky., April 15 – Eversource Energy intends to price series FF senior notes due April 15, 2031 and series GG senior notes due July 15, 2034, according to a 424B3 filing with the Securities and Exchange Commission.

The company may call the 2031 notes early with a make-whole premium until Feb. 15, 2031, followed by a par call for the last two months. The company may call the 2034 notes early with a make-whole premium until April 15, 2034, followed by a par call for the last three months.

Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, MUFG Securities Americas Inc., TD Securities (USA) LLC and U.S. Bancorp Investments, Inc. are the joint bookrunners.

Samuel A. Ramirez & Co., Inc. and Siebert Williams Shank & Co., LLC are also listed as co-managers.

Bank of New York Mellon Trust Co., NA is the trustee.

Eversource will use in-house counsel and Ropes & Gray LLP. The underwriters are relying on Choate, Hall & Stewart LLP for legal matters on the issue.

Proceeds will be used to repay at maturity all the company’s series X notes and all of Aquarion Co.’s 4% senior notes and to repay a portion of Eversource’s outstanding short-term debt. As of April 11, the company’s outstanding short-term debt totaled $1.74 billion with a weighted average interest rate of 5.66%.

Eversource Energy, based in Boston and in Hartford, Conn., is a public utility holding company.

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