8-KFinancial EventsExhibits & Filings

EVERSOURCE ENERGY 8-K Report, Financial Obligation (May 11, 2023)

Filed May 11, 2023For Securities:ES

Summary

Eversource Energy filed an 8-K on May 11, 2023, to report the issuance of new senior notes totaling $1.8 billion. This debt issuance includes $550 million of 5.45% Senior Notes due 2028, $450 million of 4.75% Senior Notes due 2026, and $800 million of 5.125% Senior Notes due 2033. These notes are unsecured obligations of the company and were issued under existing indenture agreements, with supplemental indentures executed to accommodate the new tranches. The primary purpose of this filing is to disclose the creation of these direct financial obligations. Investors should note that this issuance increases the company's total debt. The specific interest rates and maturity dates are detailed in the filing, providing transparency on the cost and duration of this new financing. The company has engaged multiple underwriters for these issuances.

Key Highlights

  • 1Eversource Energy issued new senior notes totaling $1.8 billion on May 11, 2023.
  • 2The issuance comprises three tranches: $550 million of 5.45% Senior Notes due 2028, $450 million of 4.75% Senior Notes due 2026, and $800 million of 5.125% Senior Notes due 2033.
  • 3These notes are unsecured obligations of Eversource Energy.
  • 4The issuance was conducted under existing indenture agreements, with supplemental indentures filed for the new notes.
  • 5The 2028 Notes are an additional issuance, bringing the total outstanding principal amount of this series to $1.3 billion.
  • 6Interest payments for the 2028 Notes are semi-annual on March 1 and September 1, while the 2026 and 2033 Notes have semi-annual payments on May 15 and November 15.
  • 7Multiple prominent financial institutions acted as underwriters for these debt offerings.

Frequently Asked Questions

Eversource Energy issued a total of $1.8 billion in new senior notes.

The new notes consist of $550 million of 5.45% Senior Notes due 2028, $450 million of 4.75% Senior Notes due 2026, and $800 million of 5.125% Senior Notes due 2033.

This issuance increases Eversource Energy's total debt load. The notes are unsecured obligations, meaning they are not backed by specific collateral, but they represent a direct financial obligation with specific interest payment and maturity date terms.

The filing does not explicitly state the purpose of the debt issuance. However, utility companies typically issue debt to finance capital expenditures, refinance existing debt, or support general corporate purposes, which often include investments in infrastructure and renewable energy projects.