NU takes $700m in credit



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Northeast Utilities, parent company of Public Service of New Hampshire, announced on Friday the firm has secured a $700 million revolving line of credit, amending and restating a credit agreement dated December 9. According to filings with the Securities and Exchange Commission, the banks involved are Union Bank of California N.A. as administrative agent and Barclays Bank PLC, JPMorgan Chase Bank N.A. and Union Bank of California N.A. as fronting banks. The agreement covers Western Massachusetts Electric Company, Connecticut Light and Power Company, Yankee Gas Services Company of Connecticut as well as PSNH. The Dec. 9 credit agreement had initially been set at $400 million. Citicorp USA had been named the administrative agent on that filing. — CINDY KIBBE Edit ModuleShow Tags