NJNG (NJR subsidiary) issues $200M senior notes in two tranches at 5.82% and 5.49%

NEW JERSEY RESOURCES CORP

NJNG issues $125M of 5.82% Senior Notes due 2054 and $75M of 5.49% Senior Notes due 2034 to institutional investors.
Series A closed June 26, 2024; Series B expected to close Sept 30, 2024. Notes secured by First Mortgage Bonds.
Proceeds to be used for general corporate purposes, including refinancing short-term debt and funding capex.
Notes unregistered, sold in private placement; contain customary covenants and events of default.

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