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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| | | | S-3 | | |
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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
|
| | | | 1 | | |
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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 | | |
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USE OF PROCEEDS
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| | | | 8 | | |
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GENERAL DESCRIPTION OF THE SECURITIES WE MAY SELL
|
| | | | 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
|
Underwriter
|
| |
Principal
Amount of Debentures |
| |||
|
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
|
| | | | 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
|
| | | | 8 | | |
|
GENERAL DESCRIPTION OF THE SECURITIES WE MAY SELL
|
| | | | 9 | | |
|
GLOBAL SECURITIES
|
| | | | 29 | | |
|
PLAN OF DISTRIBUTION
|
| | | | 33 | | |
|
LEGAL OPINIONS
|
| | | | 34 | | |
|
EXPERTS
|
| | | | 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
|
|
FAQ
What is NSTAR Electric (NSARO) offering in this prospectus supplement?
What are the pricing terms and expected proceeds of the NSTAR Electric debentures?
How will NSTAR Electric use the proceeds from this $300 million debenture offering?
What is the total amount outstanding for the 5.20% 2035 series after this reopening?
What are the key dates and redemption terms for the 5.20% debentures?
Will the NSTAR Electric debentures be listed on an exchange?
What is NSTAR Electric’s short-term debt position referenced in the filing?