NSTAR Electric Completes $800 Million Debt Offering
Deal News | Mar 04, 2025 | Ropes & Gray
NSTAR Electric, part of Eversource Electric, successfully closed on an $800 million registered debt offering, with legal representation from Ropes & Gray. This strategic financial move is significant for NSTAR, a major utility provider servicing 1.4 million customers across 161 cities in Massachusetts, including pivotal regions like Boston and Cape Cod. The closure of this deal on February 26 highlights the dynamic partnership and strategic planning led by Tom Fraser, a capital market partner at Ropes & Gray.
Sectors
- Utilities
- Legal Services
- Capital Markets
Geography
- United States – NSTAR Electric operates in Massachusetts, USA, providing utility services across several cities including Boston and Cape Cod.
- Massachusetts – The transaction involves NSTAR Electric, a utility company servicing diverse regions across Massachusetts.
Industry
- Utilities – NSTAR Electric operates within the utilities sector, providing essential electric services to a large customer base in Massachusetts.
- Legal Services – Ropes & Gray, a legal advisor in this transaction, falls within the legal services industry, providing specialized expertise in capital markets.
- Capital Markets – This sector is relevant as the article discusses the registered debt offering, a significant capital market activity.
Financials
- $800 million – Total value of NSTAR Electric's registered debt offering.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| NSTAR Electric | Target Company | Company | An electric utility serving over 1.4 million customers in Massachusetts. |
| Eversource Electric | Parent Company | Company | The parent company of NSTAR Electric. |
| Ropes & Gray | Legal Advisor | Company | A law firm advising NSTAR Electric in the $800 million debt offering. |
| Tom Fraser | Capital Markets Partner | Person | Led the deal team at Ropes & Gray for the NSTAR Electric transaction. |