Eversource Energy Prices $750 Million Junior Subordinated Notes Due 2056

summarizeSummary

Eversource Energy has finalized the terms for a $750 million offering of junior subordinated notes due 2056, securing significant capital with a 6.100% coupon.

check_boxKey Events

• Finalizes $750 Million Debt Offering

  Eversource Energy priced $750 million in Junior Subordinated Notes, Series A, due August 15, 2056, at 100% of the principal amount.

• Sets Coupon Rate and Terms

  The notes carry a fixed coupon of 6.100% per year until August 15, 2031, after which the rate will reset every five years based on the Five-year U.S. Treasury Rate plus a spread, with a 6.100% floor.

• Enhances Financial Flexibility

  The offering includes an optional deferral of interest for up to 10 consecutive years and received investment-grade ratings (Baa3/BBB-/BB+), providing crucial liquidity and financial stability following recent capital structure challenges.

auto_awesomeAnalysis

This Free Writing Prospectus (FWP) finalizes the pricing and terms of Eversource Energy's $750 million offering of Junior Subordinated Notes, Series A, due 2056. The successful issuance of these notes provides substantial capital, which is particularly important given the company's recent denial of its $2.4 billion Aquarion water business sale and a new $900 million guarantee disclosed in its latest 10-K. The notes, featuring a 6.100% coupon and investment-grade ratings (Baa3/BBB-/BB+), enhance the company's financial flexibility and liquidity, helping to manage its capital structure and ongoing operational needs. The optional deferral of interest provides the company with additional financial flexibility.