Northeast Utilities is borrowing $750 million in order to pay down other senior debt obligations as well as some of the company's more than $1 billion in short-term debt. After underwriting costs and expenses for the transaction, NU expects to make $742.8 million. NU will pay off $250 million of debt due June 1 and $300 million of debt due Sept. 20. The rest will go toward the company's $1.05 billion in short-term debt and general corporate expenses. As for the new debt, $300 million will be due 2018 and will bear a 1.45% interest rate. The other $450 million will be due 2023 and will have a 2.8% interest rate.

Northeast Utilities Presents at Citi's Global Energy and Utilities Conference, May-15-2013 03:35 PM. Venue: Hyatt Regency, One Avenue De Lafayette, Boston, Massachusetts, United States.

Northeast Utilities reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the period, the company reported operating revenues of $1,995,023,000 compared to $1,099,623 for the same period a year ago. Operating income was $418,945,000 compared to $214,393,000 a year ago. Income before income tax expense was $350,455,000 compared to $156,719,000 a year ago. Net income was $229,968,000 compared to $100,755,000 a year ago. Basic and diluted earnings per common share were $0.72 compared to $0.56 a year ago. Net cash flows provided by operating activities was $473,143,000 compared to $8,816,000 a year ago. Investments in property, plant and equipment was $388,950,000 compared to $304,294,000 a year ago. For the full year of 2013, the company expects earnings guidance of $2.40 to $2.60 per share.