Summary
Eversource Energy (ES) has filed an 8-K to report the issuance of new senior notes on October 5, 2017. The company successfully raised $450 million through an additional issuance of its Senior Notes, Series K, Due 2022, bringing the total outstanding for this series to $750 million. Additionally, ES issued $450 million of new Senior Notes, Series L, Due 2024. These new debt issuances carry interest rates of 2.75% for the 2022 Notes and 2.90% for the 2024 Notes, with semi-annual interest payments. The primary purpose of this filing is to disclose the creation of these direct financial obligations, detailing the aggregate principal amounts, maturity dates, and the governing indenture agreements. This move indicates Eversource Energy's strategy to manage its capital structure and fund ongoing operations or investments.
Key Highlights
- 1Eversource Energy issued $450 million in additional Series K Senior Notes due 2022.
- 2Eversource Energy issued $450 million in Series L Senior Notes due 2024.
- 3The aggregate principal amount of Series K Notes outstanding now totals $750 million.
- 4The Series K Notes (2022) carry a 2.75% annual interest rate, maturing March 15, 2022.
- 5The Series L Notes (2024) carry a 2.90% annual interest rate, maturing October 1, 2024.
- 6Both note issuances are unsecured obligations governed by a new Ninth Supplemental Indenture.
- 7The filing details the underwriting agreements and the supplemental indentures related to these debt issuances.