Summary
Eversource Energy (ES) filed an 8-K on March 16, 2017, to report the issuance of $300,000,000 aggregate principal amount of its Senior Notes, Series K, Due 2022. These notes carry a coupon rate of 2.75% and mature on March 15, 2022. The issuance was conducted under an underwriting agreement with Barclays Capital Inc., Goldman, Sachs & Co., and J.P. Morgan Securities LLC. This debt issuance represents a material financial obligation for the company. Investors should note the terms of this new debt, including its maturity date and interest rate, as it impacts the company's leverage and future interest expense. The company's ability to service this new debt will be a key consideration for financial health and investor confidence.
Key Highlights
- 1Eversource Energy issued $300 million in Senior Notes, Series K, due 2022.
- 2The notes have a fixed interest rate of 2.75% per annum.
- 3Interest payments are semi-annual, due on March 15 and September 15.
- 4The principal amount will mature on March 15, 2022.
- 5The issuance is an unsecured obligation of Eversource Energy.
- 6The transaction was facilitated by an Underwriting Agreement with major financial institutions.
- 7The filing details the Eighth Supplemental Indenture governing these notes.
Frequently Asked Questions
This 8-K filing is primarily to report the creation of a direct financial obligation for Eversource Energy, specifically the issuance of $300 million in Senior Notes, Series K, due 2022.
The Senior Notes have an aggregate principal amount of $300,000,000, mature on March 15, 2022, and bear interest at a rate of 2.75% per annum, payable semi-annually.
This issuance increases Eversource Energy's total debt and will result in additional semi-annual interest payments, impacting its leverage ratios and cash flow. Investors should consider this added debt in their assessment of the company's financial risk and its ability to manage its obligations.
The notes are unsecured obligations of Eversource Energy.