Summary
Eversource Energy (ES) announced on January 19, 2024, through an 8-K filing, the issuance of new senior notes totaling $1 billion. This issuance includes $350 million of 5.00% Senior Notes due in 2027 and $650 million of 5.50% Senior Notes due in 2034. These notes are unsecured obligations of the company, issued under an indenture supplemented by a new twenty-first supplemental indenture. The primary purpose of this filing is to inform investors about the company's financing activities and its impact on the capital structure. The issuance of new debt will affect the company's leverage and interest expense. Investors should consider the terms of these notes, including their interest rates and maturity dates, when assessing the company's financial health and future profitability. The filing also includes standard legal opinions and exhibits related to the note issuance.
Key Highlights
- 1Eversource Energy issued $1 billion in aggregate principal amount of senior notes on January 19, 2024.
- 2The issuance comprises $350 million of 5.00% Senior Notes, Series DD, due 2027.
- 3The issuance also includes $650 million of 5.50% Senior Notes, Series EE, due 2034.
- 4These notes are unsecured obligations of Eversource Energy.
- 5Interest on the notes is payable semi-annually, starting July 1, 2024.
- 6The transaction was executed under an Underwriting Agreement dated January 16, 2024.
- 7The company has filed necessary legal opinions and exhibits related to the note issuance.