Unitil Corp Issues $60M in Senior Unsecured Notes

What Happened
Unitil Corporation announced it entered into a Note Purchase Agreement on September 24, 2026 and issued $60 million of senior unsecured notes to institutional investors. The financing consists of $27.0 million of 5.42% Senior Unsecured Notes, Series 2026A, due September 24, 2031, and $33.0 million of 5.79% Senior Unsecured Notes, Series 2026B, due September 24, 2036. The purchasers include CoBank, Thrivent Financial for Lutherans, MetLife Reinsurance Company of Hamilton, Ltd., Modern Woodmen of America and CMFG Life Insurance Company.

Key Details

• Total principal: $60,000,000 (Series 2026A: $27M; Series 2026B: $33M).
• Interest rates and maturities: 5.42% due 9/24/2031 (2026A); 5.79% due 9/24/2036 (2026B).
• Use of proceeds: capital contributions to utility subsidiaries, refinancing existing debt, and general corporate purposes.
• Transaction notes: customary covenants, representations and events of default; notes may become immediately due upon an event of default. Offered under Section 4(a)(2) exemption and not registered under the Securities Act.

Why It Matters
This debt issuance raises $60M of medium- and long-term financing for Unitil, providing cash for subsidiary capital needs and to refinance liabilities—actions that can affect interest costs and liquidity. Investors should note the fixed coupon rates and maturities, the unsecured status of the notes, and that some purchasers are existing creditors of Unitil or its subsidiaries, which may be relevant to credit relationships and covenant enforcement.