National Grid unit talks $400 million notes due 2052 at Treasuries plus 160-165 bps area

By Devika Patel and Cristal Cody

Knoxville, Tenn., Jan. 12 – National Grid plc subsidiary KeySpan Gas East Corp. set price talk for a $400 million Rule 144A and Regulation S offering of senior notes due 2052 in the Treasuries plus 160 basis points to 165 bps area, according to a market source.

The company held fixed income investor calls on Tuesday for the offering.

The bookrunners are JPMorgan, Mizuho Securities and Wells Fargo.

National Grid owns and operates the regulated electricity transmission network in England and Wales.

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