Market Chatter: Eversource Energy to Raise $1.5 Billion From Hybrid Bonds

MT Newswires Live02-24 03:32

Eversource Energy (ES) is set to raise $1.5 billion from the sale of its first hybrid bonds in an effort to refinance debt, Bloomberg reported Monday, citing a person with familiar with the matter.

The 30.5-year securities will be offered in two $750 million parts, with one of the bonds cannot be bought back for 5.25 years, and the other not for 10.5 years, according to Bloomberg.

The notes will respectively yield 6.1% and 6.35%, both about 0.4 percentage points less than the initial price discussions, the report said.

Eversource Energy did not immediately respond to a request for comment by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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