NSTAR Electric reopens 2035 notes; total now $700M outstanding
NSTAR Electric Company (Eversource Energy) is offering $300,000,000 of 5.20% Debentures due 2035 in a reopening that will be fungible with the $400,000,000 issued on February 26, 2025, bringing total outstanding for this series to $700,000,000. The debentures priced at 102.451% with a 0.650% underwriting discount, generating estimated net proceeds of $305,403,000 (plus accrued interest if settled on October 17, 2025).
The notes are unsecured, rank equally with other unsubordinated debt, and pay interest semi-annually on March 1 and September 1, starting March 1, 2026. They mature on March 1, 2035, and are redeemable at the greater of make‑whole (Treasury Rate + 15 bps) or 100% before the Par Call Date of December 1, 2034, and at 100% thereafter, in each case plus accrued interest.
Use of proceeds: approximately $305.4 million will be used to refinance short‑term debt and to fund capital expenditures and working capital. As of October 9, 2025, short‑term debt outstanding was $399.0 million with a 4.26% weighted‑average annual interest rate. The debentures will not be listed on an exchange; settlement is expected on October 17, 2025.
Positive
- None.
Negative
- None.
Registration No. 333-286362-03
(To Prospectus dated April 3, 2025)
DOING BUSINESS AS EVERSOURCE ENERGY
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Per
Debenture |
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Total
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Public offering price(1)
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| | | | 102.451% | | | | | $ | 307,353,000 | | |
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Underwriting discount
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| | | | 0.650% | | | | | $ | 1,950,000 | | |
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Proceeds, before expenses, to us(1)
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| | | | 101.801% | | | | | $ | 305,403,000 | | |
| | BofA Securities | | |
J.P. Morgan
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Morgan Stanley
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PNC Capital Markets LLC
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RBC Capital Markets
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US Bancorp
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| | Ramirez & Co., Inc. | | |
Siebert Williams Shank
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ABOUT THIS PROSPECTUS SUPPLEMENT
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| | | | S-1 | | |
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DOCUMENTS INCORPORATED BY REFERENCE
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| | | | S-2 | | |
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SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
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SUMMARY
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| | | | S-5 | | |
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RISK FACTORS
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| | | | S-8 | | |
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USE OF PROCEEDS
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| | | | S-9 | | |
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DESCRIPTION OF THE DEBENTURES
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| | | | S-10 | | |
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CERTAIN UNITED STATES FEDERAL INCOME TAX CONSEQUENCES
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| | | | S-13 | | |
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UNDERWRITING
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| | | | S-17 | | |
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VALIDITY OF DEBENTURES
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| | | | S-23 | | |
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EXPERTS
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| | | | S-23 | | |
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ABOUT THIS PROSPECTUS
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| | | | 1 | | |
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WHERE YOU CAN FIND MORE INFORMATION
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| | | | 1 | | |
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SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM
ACT OF 1995 |
| | | | 3 | | |
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RISK FACTORS
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| | | | 5 | | |
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THE REGISTRANTS
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| | | | 6 | | |
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USE OF PROCEEDS
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| | | | 8 | | |
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GENERAL DESCRIPTION OF THE SECURITIES WE MAY SELL
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| | | | 9 | | |
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GLOBAL SECURITIES
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| | | | 29 | | |
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PLAN OF DISTRIBUTION
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| | | | 33 | | |
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LEGAL OPINIONS
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| | | | 34 | | |
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EXPERTS
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| | | | 34 | | |
Assistant Treasurer, Corporate Finance and Cash Management
NSTAR Electric Company,
doing business as Eversource Energy
247 Station Drive
Westwood, MA 02090
(860) 665-6242
LITIGATION REFORM ACT OF 1995
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Underwriter
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Principal
Amount of Debentures |
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BofA Securities, Inc.
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| | | $ | 48,000,000 | | |
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J.P. Morgan Securities LLC
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| | | $ | 48,000,000 | | |
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Morgan Stanley & Co. LLC
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| | | $ | 48,000,000 | | |
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PNC Capital Markets LLC
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| | | $ | 48,000,000 | | |
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RBC Capital Markets, LLC
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| | | $ | 48,000,000 | | |
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U.S. Bancorp Investments, Inc.
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| | | $ | 48,000,000 | | |
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Samuel A. Ramirez & Company, Inc.
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| | | $ | 6,000,000 | | |
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Siebert Williams Shank & Co., LLC
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| | | $ | 6,000,000 | | |
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Total
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| | | $ | 300,000,000 | | |
Share Purchase Contracts, Share Purchase Units
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Page
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ABOUT THIS PROSPECTUS
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| | | | 1 | | |
|
WHERE YOU CAN FIND MORE INFORMATION
|
| | | | 1 | | |
|
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
|
| | | | 3 | | |
|
RISK FACTORS
|
| | | | 5 | | |
|
THE REGISTRANTS
|
| | | | 6 | | |
|
USE OF PROCEEDS
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| | | | 8 | | |
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GENERAL DESCRIPTION OF THE SECURITIES WE MAY SELL
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| | | | 9 | | |
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GLOBAL SECURITIES
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| | | | 29 | | |
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PLAN OF DISTRIBUTION
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| | | | 33 | | |
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LEGAL OPINIONS
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| | | | 34 | | |
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EXPERTS
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| | | | 34 | | |
Assistant Treasurer, Corporate Finance and Cash Management
Eversource Energy
247 Station Drive
Westwood, MA 02090
(781) 441-8127
LITIGATION REFORM ACT OF 1995
doing business as EVERSOURCE ENERGY
| | BofA Securities | | |
J.P. Morgan
|
| |
Morgan Stanley
|
|
| |
PNC Capital Markets LLC
|
| |
RBC Capital Markets
|
| |
US Bancorp
|
|
| | Ramirez & Co., Inc. | | |
Siebert Williams Shank
|
|