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The Hartford Electric Light Company Deal - Lehman Brothers Collection

The Hartford Electric Light Company

Company Dealfirst mortgage bonds 1968 2nd series due 11/1/98
Transaction TypeFirst Mortgage Bonds
Deal DescriptionThe Hartford Electric Light Company used the net proceeds from this transaction to finance its construction program, to pay nuclear fuel costs, to supply funds for its investments in regional nuclear generating companies, and to repay short-term borrowings, which were incurred for these and other similar purposes. The company's 1968-1969 construction program included the construction of the Millstone Point nuclear generating units and the Northfield Mountain pumped storage project, a gas turbine generating unit, 345 kv transmission lines, other electric transmission lines, substations, and distribution facilities, gas facilities, and the fabrication of the initial nuclear facilities for the first nuclear generating unit at Millstone Point. It was anticipated that funds to finance construction costs, nuclear fuel costs, and investments in regional nuclear generating companies over the next few years would have been provided by additional capital contributions from the company's parent, Northeast Utilities, and by the sale of additional securities.
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