Eversource Energy Reports New Direct Financial Obligation

TL;DR

**Eversource just took on new debt, watch for details on its impact.**

AI Summary

Eversource Energy filed an 8-K on January 19, 2024, to report the creation of a direct financial obligation. This filing, under Item 1.01, indicates that the company has taken on new debt or a similar financial commitment. For investors, this matters because new financial obligations can impact the company's balance sheet, potentially affecting its financial health, future earnings, and ability to pay dividends, which could influence stock valuation.

Why It Matters

New financial obligations can affect a company's debt levels and interest expenses, potentially impacting profitability and shareholder returns. Investors should monitor the specifics of this obligation to assess its impact on Eversource's financial stability.

Risk Assessment

Risk Level: medium — The filing indicates a new financial obligation without specifying its nature or amount, which introduces uncertainty about its potential impact on the company's financial health.

Analyst Insight

A smart investor would await further details on the specific terms and amount of this new financial obligation to assess its potential impact on Eversource Energy's balance sheet and future profitability before making investment decisions.

Key Players & Entities

• EVERSOURCE ENERGY (company) — the registrant filing the 8-K
• January 19, 2024 (date) — date of earliest event reported and filing date
• 001-05324 (other) — Commission File Number for Eversource Energy
• Massachusetts (other) — State of incorporation for Eversource Energy

Forward-Looking Statements

• Eversource Energy will provide more details on the nature and amount of this financial obligation in future filings or earnings calls. (EVERSOURCE ENERGY) — high confidence, target: Q1 2024 Earnings Call

FAQ

Key Financial Figures

• $5.00 — ge on which registered Common Shares, $5.00 par value per share ES New York Stock
• $350,000,000 — 19, 2024, Eversource Energy issued (i) $350,000,000 aggregate principal amount of its 5.00%
• $650,000,000 — D, Due 2027 (the "2027 Notes") and (ii) $650,000,000 aggregate principal amount of its 5.50%

Filing Documents

• tm243665d1_8k.htm (8-K) — 31KB
• tm243665d1_ex1-1.htm (EX-1.1) — 178KB
• tm243665d1_ex4-1.htm (EX-4.1) — 183KB
• tm243665d1_ex5-1.htm (EX-5.1) — 9KB
• tm243665d1_ex5-1img001.jpg (GRAPHIC) — 3KB
• 0001104659-24-005207.txt ( ) — 647KB
• es-20240119.xsd (EX-101.SCH) — 3KB
• es-20240119_lab.xml (EX-101.LAB) — 33KB
• es-20240119_pre.xml (EX-101.PRE) — 22KB
• tm243665d1_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 January 19, 2024, Eversource Energy issued (i) $350,000,000 aggregate principal amount of its 5.00% Senior Notes, Series DD, Due 2027 (the "2027 Notes") and (ii) $650,000,000 aggregate principal amount of its 5.50% Senior Notes, Series EE, Due 2034 (the "2034 Notes" and together with the 2027 Notes, the "Notes"), pursuant to an Underwriting Agreement, dated January 16, 2024, among Eversource Energy and BofA Securities, Inc., BNY Mellon Capital Markets, LLC, Goldman Sachs & Co. LLC, Mizuho Securities USA LLC, TD Securities (USA) LLC and Wells Fargo Securities, LLC, as representatives of the underwriters named therein (the "Underwriting Agreement"). The Notes are Eversource Energy's unsecured obligations and were issued under the Twenty-First Supplemental Indenture, dated January 1, 2024, between Eversource Energy and The Bank of New York Mellon Trust Company, N.A. (the "Twenty-First Supplemental Indenture"), supplementing the Indenture between Eversource Energy and The Bank of New York Mellon Trust Company, N.A. (as successor trustee), dated as of April 1, 2002 (the "Indenture"). Interest on the Notes is payable semi-annually in arrears on January 1 and July 1 of each year, beginning on July 1, 2024 and ending on the applicable maturity date of the Notes. The foregoing summaries of the Underwriting Agreement, the Indenture and the Twenty-First Supplemental Indenture do not purport to be complete and are qualified in their entirety by references to such documents. The Underwriting Agreement and the Twenty-First Supplemental Indenture are filed hereto as Exhibits 1.1 and 4.1, respectively. The Indenture is filed as Exhibit A-3 to Eversource Energy's 35-CERT, filed April 16, 2002 (File No. 070-09535). A copy of the opinion of Ropes & Gray LLP relating to the validity of the Notes is filed as Exhibit 5.1 hereto.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 1.1 Underwriting Agreement, dated January 16, 2024, among Eversource Energy and the Underwriters named therein. 4.1 Twenty-First Supplemental Indenture, dated as of January 1, 2024, between Eversource Energy and The Bank of New York Mellon Trust Company, N.A., as Trustee. 4.2 Form of the 2027 Notes (included as Exhibit A to the Twenty-First Supplemental Indenture filed herewith as Exhibit 4.1). 4.3 Form of the 2034 Notes (included as Exhibit B to the Twenty-First Supplemental Indenture filed herewith as Exhibit 4.1). 5.1 Legal opinion of Ropes & Gray LLP relating to the validity of the Notes. 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. EVERSOURCE ENERGY (Registrant) January 19, 2024 By: /s/ Emilie G. O'Neil Emilie G. O'Neil Assistant Treasurer

View Full Filing

View this 8-K filing on SEC EDGAR