Summary
Eversource Energy (ES) announced the issuance of $350 million in Senior Notes, Series P, Due 2050, carrying a 3.45% interest rate. These unsecured notes were issued on January 10, 2020, under an Underwriting Agreement and a Twelfth Supplemental Indenture, supplementing an existing indenture from 2002. The issuance increases the company's long-term debt obligations. Investors should note that this filing primarily details a debt issuance event. The new notes mature in 2050 and will accrue interest semi-annually, with the first payment due in July 2020. This debt will fund various corporate activities and capital expenditures. While the interest rate appears relatively low, the significant principal amount will impact the company's leverage and future interest expense.
Key Highlights
- 1Eversource Energy issued $350,000,000 aggregate principal amount of 3.45% Senior Notes, Series P, due 2050.
- 2The Notes were issued on January 10, 2020, with a maturity date of January 15, 2050.
- 3Interest on the Notes is 3.45% per annum, payable semi-annually on January 15 and July 15.
- 4The Notes are unsecured obligations of Eversource Energy.
- 5The issuance was conducted under an Underwriting Agreement with several representatives of underwriters.
- 6The Notes were issued pursuant to the Twelfth Supplemental Indenture, supplementing a 2002 Indenture.