Eversource 2010 Annual Report Download - page 108

91
PSNH As of December 31,
(Millions of Dollars) 2010 2009
First Mortgage Bonds:
5.25% 2004 Series L, due 2014 $ 50.0 $ 50.0
5.60% 2005 Series M, due 2035 50.0 50.0
6.15% 2007 Series N, due 2017 70.0 70.0
6.00% 2008 Series O, due 2018 110.0 110.0
4.50% 2009 Series P, due 2019 150.0 150.0
Total First Mortgage Bonds 430.0 430.0
Pollution Control Revenue Bonds:
6.00% Tax-Exempt, Series D, due 2021 75.0 75.0
6.00% Tax-Exempt, Series E, due 2021 44.8 44.8
Adjustable Rate, Series A, due 2021 89.3 89.3
4.75% Tax-Exempt, Series B, due 2021 89.3 89.3
5.45% Tax-Exempt, Series C, due 2021 108.9 108.9
Total Pollution Control Revenue Bonds 407.3 407.3
Unamortized Premiums and Discounts, Net (0.9) (1.0)
Long-Term Debt $ 836.4 $ 836.3
WMECO As of December 31,
(Millions of Dollars) 2010 2009
Pollution Control Notes:
Tax Exempt 1993 Series A, 5.85% due 2028 $ 53.8 $ 53.8
Other Notes:
Senior Notes Series A, 5.00% due 2013 55.0 55.0
Senior Notes Series B, 5.90% due 2034 50.0 50.0
Senior Notes Series C, 5.24% due 2015 50.0 50.0
Senior Notes Series D, 6.70% due 2037 40.0 40.0
Senior Notes Series E, 5.10% due 2020 95.0 -
Total Pollution Control Notes and Other Notes 343.8 248.8
Fees and Interest due for Spent Nuclear Fuel Disposal Costs 57.2 57.1
Total Pollution Control Notes, Other Notes, and Fees and
Interest for Spent Nuclear Fuel Disposal Costs 401.0 305.9
Unamortized Premiums and Discounts, Net (0.7) (0.4)
Long-Term Debt $ 400.3 $ 305.5
Included in the NU amounts are $263 million of NU Parent Series A Senior Notes maturing in 2012 with a coupon rate of 7.25 percent
and $250 million of NU Parent Series C Senior Notes maturing in 2013 with a coupon rate of 5.65 percent.
There are no cash sinking fund requirements or debt maturities for the years 2011 through 2013 for CL&P and PSNH; however, CL&P
has $62 million of PCRBs that carry a coupon rate of 1.4 percent during the current one-year fixed-rate period and are subject to
mandatory tender for purchase on April 1, 2011. There is a $263 million maturity in 2012 related to the NU parent Series A Senior
notes. There are $55 million and $250 million of maturities in 2013 related to the WMECO Series A Senior Notes and the NU parent
Series C Senior Notes, respectively. There are $150 million and $50 million of maturities in 2014 related to the CL&P 2004 Series A
first mortgage bonds and the PSNH 2004 Series L first mortgage bonds, respectively. There are $100 million and $50 million of
maturities in 2015 related to CL&P 2005 Series A first mortgage bonds and WMECO Series C Senior Notes, respectively. CL&P,
PSNH and WMECO have $2.032 billion, $787.3 million and $238.8 million, respectively, of long-term debt maturities in the period from
2016 through 2037.
There are annual renewal and replacement fund requirements equal to 2.25 percent of the average of net depreciable utility property
owned by PSNH in 1992, plus cumulative gross property additions thereafter. PSNH expects to meet these future fund requirements
by certifying property additions. Any deficiency would need to be satisfied by the deposit of cash or bonds.
Essentially all utility plant of CL&P, PSNH and Yankee Gas is subject to the lien of each company's respective first mortgage bond
indenture.
The CL&P, PSNH and WMECO tax-exempt bonds contain call provisions providing call prices ranging between 100 percent and 102
percent of par. All other securities are subject to make-whole provisions.
As of December 31, 2010, CL&P had $423.9 million of tax-exempt PCRBs, $315.5 million of which is secured by second mortgage liens
on transmission assets, junior to the liens of its first mortgage bond indenture. CL&P has $62 million of tax-exempt PCRBs secured by
first mortgage bonds.