On August 30, 2018, Unitil Corporation’s ( the “Company” or “Registrant”) New Hampshire based electric utility subsidiary, Unitil Energy Systems, Inc. (“Unitil Energy”), priced $30 million of its 4.18% Series Q First Mortgage Bonds (“Bonds”) due 2048 through a private placement marketing process to institutional investors.
Unitil Energy plans to use the net proceeds from the offering to repay short-term debt and for general corporate purposes. Unitil Energy anticipates closing this long-term financing in the fourth quarter of 2018.
Unitil Energy has received initial commitments from the expected purchasers of the Bonds. However, the issuance of the Bonds is subject to execution of the definitive documentation and funding of the commitments.
Unitil Energy offered the Bonds principally to institutional investors in an offering made pursuant to the exemption from registration requirements under Section 4(a)(2) of the Securities Act of 1933, as amended (“Act”).
The Bonds offered have not been and will not be registered under the Act, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Act and applicable state securities laws.
The Company intends this notice to comply with Rule 135c of the Act and, accordingly, this notice does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
