Northeast Utilities in Hartford and its three utility divisions have signed new, three-year credit agreements covering up to $900 million with a syndicate of banks, a regulatory filing shows.
NU negotiated an unsecured line of credit of up to $500 million with a three-bank syndicate led by Union Bank N.A. in San Francisco, according to a Securities and Exchange Commission filing.
Its three operating units – Connecticut Light & Power Co., Yankee Gas Services Co., and Western Massachusetts Electric Co. – also negotiated new credit lines with the syndicate totaling up to $400 million, the filing said.
Both credit pacts expire Sept. 24, 2013 and allow for up to two one-year extensions, papers show.
NU said the previous credit pacts dating to 2005, each due to expire on Nov. 6, were terminated.
