NSTAR Electric Co. Reports New Financial Obligation
Ticker: NSARP · Form: 8-K · Filed: May 22, 2024 · CIK: 13372
| Field | Detail |
|---|---|
| Company | Nstar Electric Co (NSARP) |
| Form Type | 8-K |
| Filed Date | May 22, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $600,000,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt, financial-obligation
TL;DR
NSTAR just took on a new debt, filing an 8-K today.
AI Summary
NSTAR Electric Company filed an 8-K on May 22, 2024, to report the creation of a direct financial obligation. The filing indicates a new financial commitment was entered into by the company on the same date. Specific details regarding the nature and amount of this obligation are not provided in the summary information.
Why It Matters
This filing signals a new financial commitment by NSTAR Electric, which could impact its financial structure and future obligations.
Risk Assessment
Risk Level: medium — The creation of a new financial obligation can introduce new risks related to debt servicing and financial leverage.
Key Players & Entities
- NSTAR ELECTRIC COMPANY (company) — Registrant
- May 22, 2024 (date) — Date of earliest event reported
- 800 Boylston Street (address) — Principal executive offices
- Boston, Massachusetts (location) — Principal executive offices location
- 02199 (zip_code) — Principal executive offices zip code
- ( 800 ) 286-5000 (phone_number) — Registrant's telephone number
FAQ
What is the specific nature of the direct financial obligation reported by NSTAR Electric Company?
The filing indicates the creation of a direct financial obligation, but the specific details of this obligation are not elaborated upon in the provided summary information.
When was the direct financial obligation created by NSTAR Electric Company?
The direct financial obligation was created on May 22, 2024.
What is the principal executive office address for NSTAR Electric Company?
The principal executive office address for NSTAR Electric Company is 800 Boylston Street, Boston, Massachusetts 02199.
What is the telephone number for NSTAR Electric Company?
The telephone number for NSTAR Electric Company is (800) 286-5000.
What is the SEC file number for NSTAR Electric Company?
The SEC file number for NSTAR Electric Company is 001-02301.
Filing Stats: 687 words · 3 min read · ~2 pages · Grade level 10.2 · Accepted 2024-05-22 16:07:00
Key Financial Figures
- $600,000,000 — ource Energy ("NSTAR Electric"), issued $600,000,000 aggregate principal amount of its 5.40%
Filing Documents
- tm2415145d1_8k.htm (8-K) — 28KB
- tm2415145d1_ex1-1.htm (EX-1.1) — 148KB
- tm2415145d1_ex4-1.htm (EX-4.1) — 47KB
- tm2415145d1_ex5-1.htm (EX-5.1) — 9KB
- tm2415145d1_ex5-1img002.jpg (GRAPHIC) — 9KB
- 0001104659-24-064251.txt ( ) — 455KB
- es-20240522.xsd (EX-101.SCH) — 3KB
- es-20240522_lab.xml (EX-101.LAB) — 33KB
- es-20240522_pre.xml (EX-101.PRE) — 22KB
- tm2415145d1_8k_htm.xml (XML) — 3KB
03
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. On May 22, 2024, NSTAR Electric Company, doing business as Eversource Energy ("NSTAR Electric"), issued $600,000,000 aggregate principal amount of its 5.40% Debentures due 2034 ("Debentures") pursuant to an Underwriting Agreement, dated May 20, 2024, between NSTAR Electric and BofA Securities, Inc., Mizuho Securities USA LLC, PNC Capital Markets LLC, RBC Capital Markets, LLC and Wells Fargo Securities, LLC, as representatives of the several underwriters named therein. The Debentures were issued under an indenture dated as of September 1, 1988, between NSTAR Electric (formerly Boston Edison Company) and The Bank of New York Mellon Trust Company, N.A., formerly known as The Bank of New York Trust Company, N.A. (as successor to The Bank of New York, as successor to Bank of Montreal Trust Company), as trustee. NSTAR Electric has registered its Debentures with the U.S. Securities and Exchange Commission under the Securities Act of 1933, as amended, pursuant to a Registration Statement on Form S-3 (Commission File No. 333-264278-02). The Debentures mature on June 1, 2034 and bear interest at 5.40%, payable semi-annually on each June 1 and December 1, commencing on December 1, 2024. Interest on the Debentures will accrue from May 22, 2024 and will be computed on the basis of a 360-day year consisting of twelve 30-day months. Section 9
Financial Statements and Exhibits
Financial Statements and Exhibits
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 1.1 Underwriting Agreement, dated May 20, 2024, between NSTAR Electric Company, doing business as Eversource Energy, and BofA Securities, Inc., Mizuho Securities USA LLC, PNC Capital Markets LLC, RBC Capital Markets, LLC and Wells Fargo Securities, LLC, as representatives of the several Underwriters named therein. 4.1 Form of 5.40% Debenture due 2034. 5.1 Legal opinion of Ropes & Gray LLP relating to the validity of the Debentures. 23.1 Consent of Ropes & Gray LLP (included in Exhibit 5.1). 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. NSTAR ELECTRIC COMPANY (Registrant) May 22, 2024 By: /s/ Emilie G. O'Neil Emilie G. O'Neil Assistant Treasurer-Corporate Finance and Cash Management