By Devika Patel
Knoxville, Tenn., Sept. 4 – Unitil Corp.’s electric utility subsidiary Unitil Energy Systems, Inc. priced a $30 million private placement of 4.18%. series Q first mortgage bonds due 2048 on Aug. 30, according to an 8-K filed with the Securities and Exchange Commission.
Proceeds will be used to repay short-term debt and for general corporate purposes.
This long-term financing is expected to close in the fourth quarter of 2018.
Unitil is a gas and electric utility based in Hampton, N.H.
| Issuer: | Unitil Energy Systems, Inc.
|
| Issue: | Series Q first mortgage bonds
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| Amount: | $30 million
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| Maturity: | 2048
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| Coupon: | 4.18%
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| Pricing date: | Aug. 30
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| Distribution: | Private placement
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