Green Bond Fact SheetNSTAR Electric

Date: 05/06/2019

Issue date: 15-05-2019 Maturity date: 15-05-2029 Tenor: 10Issuer NameNSTAR Electric

Amount Issued

USD400m

Country of risk

USA

CBI Database

IncludedIssuer Type1

Non-financial corporate

Bond TypeSenior secured

Green Bond Framework

N/A

Second party opinion

N/A

Certification Standard

N/A

Assurance report

N/A

Certification Verifier

N/AGreen bond rating

N/A☒ Energy☒ Solar☐ Onshore wind
☐ Offshore wind
☐ Geothermal☐ Hydro☐ Tidal☐ Biofuels☐ Bioenergy☐ Waste to energy☐ District heating☒ Electricity grid

☐ Energy storage☒ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Buildings☐ Certified Buildings☐ HVAC systems☐ Energy performance☐ Water performance☐ Energy storage/meters☐ Other energy related☐ Industry: components☐ Adaptation & resilience☐ Transport☐ Electric vehicles☐ Low emission vehicles☐ Bus rapid transit☐ Passenger trains☐ Urban rail

☐ Freight rolling stock☐ Coach / public bus☐ Bicycle infrastructure☐ Energy performance☐ Transport logistics☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Water & wastewater☐ Water distribution☐ Water treatment☐ Wastewater treatment☐ Water storage☐ Storm water mgmt
☐ Flood protection☐ Desalinisation plants☐ Erosion control☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Waste management☐ Recycling☐ Waste prevention☐ Pollution control☐ Landfill, energy capture☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience

Use of Proceeds☐ Land use &agriculture☐ Afforestation/parks☐ FSC Forestry☐ FSC Cellulose & paper☐ Land remediation☐ Energy/water efficiency☐ Sustainable agriculture☐ Adaptation & resilience☐ Other☐ Adaptation &resilience☐ ICT☐ Industry: process

Issue details
ReportingCompany information

NSTAR Electric is a regulated electric utility company and a subsidiary of Eversource Energy. It
engages in the purchase, transmission, delivery, and sale of electricity to residential,commercial, and industrial customers in Massachusetts. It owns 58MW of solar power facilities
in Massachusetts. As of end 2018, it served approximately 1.47m customers in Boston, as well
as 139 cities and towns in Eastern and Western Massachusetts.

Firsts, records andcertificationsFirst 2019 issuance by a Massachusetts-based non-financial corporate (only the second everfrom such an issuer, after MIT in 2014)

Proceeds description

Climate Bonds view

The available detail includes the following: “Proceeds used to support the company’s lowcarbon and clean energy initiatives (…) The proceeds from the $400 million debt issue wereused to fund various green initiatives including new solar projects and investments to help
make our customers’ homes and businesses more energy efficient.”
The US market is very strong in terms of Muni issuance but its corporate space still has a lot ofroom to grow. We are very pleased to see another green bond from a US-based non-financial
corporate and hope more follow in NSTAR Electric’s steps, including from sectors other thanenergy. However, it would be good for the issuer to disclose more information around the useof proceeds and reporting. We will continue to monitor any announcements.

Underwriters
Deal comments
Credit Rating
Pricing summary
Investors summary

1Issuer categories: ABS, development bank, financial corporate, government-backed entity, loan, local government, non-financial
corporate, sovereign