CL&P issuing $400 million in bonds

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Connecticut Light & Power said Tuesday in a U.S. Securities and Exchange Commission filing that it would offer $400 million in series A bonds as part of a supplement to a previous offering made in 2010.

The bonds will mature in January of 2023.

The company estimates it will net $396.8 million on the deal and will use the proceeds to refinance short term debt. CL&P is carrying about $478 million in short-term debt, the company disclosed in its filing.

Shares of CL&P’s parent company, Northeast Utilities were down 17 cents to $39.04 in morning trading.

Categories: Credit markets, Energy
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Rob Varnon

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