Eversource, Nstar Electric extend revolvers’ maturities to 2020

By Wendy Van Sickle

Columbus, Ohio, Oct. 30 – Eversource Energy extended to Sept. 4, 2020 its $1.45 billion senior, unsecured revolving credit facility with Bank of America, NA as administrative agent on Monday, according to an 8-K filed with the Securities and Exchange Commission.

Also on Monday, Eversource subsidiary Nstar Electric Co. extended its $450 million senior, unsecured revolving credit facility with Barclays Bank plc, as administrative agent to Sept. 4, 2020.

The facilities will continue to be used for working capital, capital expenditures and repayment of debt and to backstop the Eversource and NSTAR Electric commercial paper programs, according to the filing.

Interest under both facilities is Libor plus an applicable margin that can range from 80 basis points to 147.5 bps, depending on the borrower’s credit rating.

The facilities’ capacities did not change. The Eversource $1.45 billion revolver continues to be available for use by several of the company’s subsidiaries.

The utility supplier serves Connecticut, Massachusetts and New Hampshire. Its headquarters are in Boston and Hartford, Conn.

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