Eversource 2012 Annual Report Download - page 108

95
OTHER
As of December 31,
(Millions of Dollars)
2012
2011
Yankee Gas - First Mortgage Bonds:
7.19% Series E due 2012
$
-
$
4.3
8.48% Series B due 2022
20.0
20.0
4.80% Series G due 2014
75.0
75.0
5.26% Series H due 2019
50.0
50.0
5.35% Series I due 2035
50.0
50.0
6.90% Series J due 2018
100.0
100.0
4.87% Series K due 2020
50.0
50.0
Total First Mortgage Bonds
345.0
349.3
Less Amounts due Within One Year
-
(4.3)
Unamortized Premium
0.8
0.9
Yankee Gas Long-Term Debt
345.8
345.9
NSTAR Gas - First Mortgage Bonds:
9.95% Series J due 2020
25.0
N/A
7.11% Series K due 2033
35.0
N/A
7.04% Series M due 2017
25.0
N/A
4.46% Series N due 2020
125.0
N/A
NSTAR Gas Long-Term Debt
210.0
N/A
Other - Notes and Debentures:
7.25% Senior Notes Series A due 2012 (NU Parent)
(9)
-
263.0
5.65% Senior Notes Series C due 2013 (NU Parent)
250.0
250.0
Variable Rate Senior Notes Series D due 2013 (NU Parent) (9)
300.0
-
4.50% Debentures due 2019 (NSTAR LLC)
350.0
N/A
Spent Nuclear Fuel Obligation (CYAPC)
179.3
N/A
Total Other Long-Term Debt
1,079.3
513.0
Fair Value Adjustment (10)
259.9
2.3
Less Amounts due Within One Year
(550.0)
(263.0)
Less: Fair Value Adjustment - Current Portion(10)
(31.7)
(2.3)
Total NU Long-Term Debt
$
7,200.2
$
4,614.9
(1) On October 1, 2012, CL&P redeemed at par four different series of tax-exempt PCRBs totaling $116.4 million. The PCRBs
had maturity dates ranging from 2016 through 2028 and coupon rates of 5.85 percent through 5.95 percent.
(2) The $125 million of tax-exempt PCRBs were issued with an initial fixed rate term period ending on September 2, 2013, and are
subject to mandatory tender for purchase on September 3, 2013, at which time CL&P expects to remarket the PCRBs.
(3) On April 2, 2012, CL&P remarketed $62 million of tax-exempt PCRBs for a three-year period. The PCRBs, which mature on
May 1, 2031, carry a coupon rate of 1.55 percent during the current three-year fixed rate period and are subject to mandatory
tender for purchase on April 1, 2015.
(4) On January 15, 2013, CL&P issued $400 million of 2.5 percent Series A First and Refunding Mortgage Bonds with a maturity
date of January 15, 2023. The proceeds, net of issuance expenses, were used to repay the amounts outstanding under the
CL&P revolver and the NU commercial paper program. As a result, these amounts have been classified as Long-Term Debt
as of December 31, 2012.
(5) NSTAR Electric amounts are not included in NU consolidated as of December 31, 2011.
(6) On October 15, 2012, NSTAR Electric issued at a discount $400 million of 2.375 percent Debentures at a yield of 2.406
percent that will mature on October 15, 2022. The proceeds, net of issuance costs, were used to pay $400 million of 4.875
percent Debentures that matured on October 15, 2012.
(7) On October 1, 2012, WMECO redeemed at par $53.8 million of tax-exempt PCRBs. The PCRBs had a maturity date of 2028
and a coupon of 5.85 percent.
(8) On October 4, 2012, WMECO issued at a premium $150 million of senior unsecured notes at a yield of 2.673 percent that will
mature on September 15, 2021. The senior notes are part of the same series of WMECO’s existing 3.5 percent coupon Series
F Senior Notes that were initially issued in September 2011. As a result, the aggregate principal amount of WMECO’s
outstanding Series F Senior Notes totaled $250 million.
(9) On March 22, 2012, NU parent issued $300 million of floating rate Series D Senior Notes with a maturity date of September
20, 2013. The notes have a coupon rate based on the three-month LIBOR rate plus a credit spread of 0.75 percent and will
reset quarterly. The notes had an interest rate of 1.059 percent as of December 31, 2012. The proceeds, net of issuance
expenses, were used to repay at maturity the NU parent $263 million Series A Senior Notes that matured on April 1, 2012, to
repay short-term borrowings outstanding under the NU parent Credit Agreement and for other general corporate purposes.