LONG-TERM DEBT

Details of long-term debt outstanding are as follows:



CL&P (Millions of Dollars)	As of December 31,
	2016			2015
First Mortgage Bonds:
7.875% 1994 Series D due 2024	$	139.8		$	139.8
5.750% 2004 Series B due 2034	130.0			130.0
5.625% 2005 Series B due 2035	100.0			100.0
6.350% 2006 Series A due 2036	250.0			250.0
5.375% 2007 Series A due 2017	150.0			150.0
5.750% 2007 Series B due 2037	150.0			150.0
5.750% 2007 Series C due 2017	100.0			100.0
6.375% 2007 Series D due 2037	100.0			100.0
5.650% 2008 Series A due 2018	300.0			300.0
5.500% 2009 Series A due 2019	250.0			250.0
2.500% 2013 Series A due 2023	400.0			400.0
4.300% 2014 Series A due 2044	250.0			250.0
4.150% 2015 Series A due 2045	350.0			350.0
Total First Mortgage Bonds	2,669.8			2,669.8
Pollution Control Revenue Bonds:
4.375% Fixed Rate Tax Exempt due 2028	120.5			120.5
Less Amounts due Within One Year	(250.0		)	—
Unamortized Premiums and Discounts, Net	(10.0		)	(10.7		)
Unamortized Debt Issuance Costs	(14.3		)	(15.9		)
CL&P Long-Term Debt	$	2,516.0		$	2,763.7



NSTAR Electric (Millions of Dollars)	As of December 31,
NSTAR Electric (Millions of Dollars)	2016			2015
Debentures:
5.750% due 2036	$	200.0		$	200.0
5.625% due 2017	400.0			400.0
5.500% due 2040	300.0			300.0
2.375% due 2022	400.0			400.0
Variable Rate due 2016 (0.6036% as of December 31, 2015)	—			200.0
4.400% due 2044	300.0			300.0
3.250% due 2025	250.0			250.0
2.700% due 2026	250.0			—
Total Debentures	2,100.0			2,050.0
Less Amounts due Within One Year	(400.0		)	(200.0		)
Unamortized Premiums and Discounts, Net	(9.1		)	(8.5		)
Unamortized Debt Issuance Costs	(12.8		)	(11.7		)
NSTAR Electric Long-Term Debt	$	1,678.1		$	1,829.8



PSNH (Millions of Dollars)	As of December 31,
PSNH (Millions of Dollars)	2016			2015
First Mortgage Bonds:
5.600% Series M due 2035	$	50.0		$	50.0
6.150% Series N due 2017	70.0			70.0
6.000% Series O due 2018	110.0			110.0
4.500% Series P due 2019	150.0			150.0
4.050% Series Q due 2021	122.0			122.0
3.200% Series R due 2021	160.0			160.0
3.500% Series S due 2023	325.0			325.0
Total First Mortgage Bonds	987.0			987.0
Pollution Control Revenue Bonds:
Adjustable Rate Tax Exempt Series A due 2021 (1.138% and 0.193% as of December 31, 2016 and 2015, respectively)	89.3			89.3
Less Amounts due Within One Year	(70.0		)	—
Unamortized Premiums and Discounts, Net	0.1			0.1
Unamortized Debt Issuance Costs	(4.4		)	(5.4		)
PSNH Long-Term Debt	$	1,002.0		$	1,071.0



WMECO (Millions of Dollars)	As of December 31,
WMECO (Millions of Dollars)	2016			2015
Notes:
5.900% Senior Notes Series B due 2034	$	50.0		$	50.0
6.700% Senior Notes Series D due 2037	40.0			40.0
5.100% Senior Notes Series E due 2020	95.0			95.0
3.500% Senior Notes Series F due 2021	250.0			250.0
3.880% Senior Notes Series G due 2023	80.0			80.0
2.750% Senior Notes Series H due 2026	50.0			—
Total Notes	565.0			515.0
Unamortized Premiums and Discounts, Net	4.2			5.2
Unamortized Debt Issuance Costs	(2.7		)	(2.9		)
WMECO Long-Term Debt	$	566.5		$	517.3



OTHER (Millions of Dollars)	As of December 31,
	2016			2015
Yankee Gas - First Mortgage Bonds:
8.480% Series B due 2022	$	20.0		$	20.0
5.260% Series H due 2019	50.0			50.0
5.350% Series I due 2035	50.0			50.0
6.900% Series J due 2018	100.0			100.0
4.870% Series K due 2020	50.0			50.0
4.820% Series L due 2044	100.0			100.0
3.350% Series M due 2025	75.0			75.0
Total First Mortgage Bonds	445.0			445.0
Unamortized Premium	0.4			0.4
Unamortized Debt Issuance Costs	(1.5		)	(1.7		)
Yankee Gas Long-Term Debt	443.9			443.7

NSTAR Gas - First Mortgage Bonds:
9.950% Series J due 2020	25.0			25.0
7.110% Series K due 2033	35.0			35.0
7.040% Series M due 2017	25.0			25.0
4.460% Series N due 2020	125.0			125.0
4.350% Series O due 2045	100.0			100.0
Total First Mortgage Bonds	310.0			310.0
Less Amounts due Within One Year	(25.0		)	—
Unamortized Debt Issuance Costs	(0.7		)	(0.8		)
NSTAR Gas Long-Term Debt	284.3			309.2

Eversource Parent - Notes and Debentures:
4.500% Debentures due 2019	350.0			350.0
1.450% Senior Notes Series E due 2018	300.0			300.0
2.800% Senior Notes Series F due 2023	450.0			450.0
1.600% Senior Notes Series G due 2018	150.0			150.0
3.150% Senior Notes Series H due 2025	300.0			300.0
2.500% Senior Notes Series I due 2021	250.0			—
3.350% Senior Notes Series J due 2026	250.0			—
Total Eversource Parent Notes and Debentures	2,050.0			1,550.0
Pre-1983 Spent Nuclear Fuel Obligation (CYAPC)	180.0			179.5
Fair Value Adjustment⁽¹⁾	144.6			173.5
Less Fair Value Adjustment - Current Portion ⁽¹⁾	(28.9		)	(28.9		)
Unamortized Premiums and Discounts, Net	(2.2		)	(1.3		)
Unamortized Debt Issuance Costs	(4.9		)	(1.9		)
Total Other Long-Term Debt	$	3,066.8		$	2,623.8

Total Eversource Long-Term Debt	$	8,829.4		$	8,805.6


⁽¹⁾	The fair value adjustment amount is the purchase price adjustment, net of amortization, required to record the NSTAR long-term debt at fair value on the date of the 2012 merger.

Long-Term Debt Issuances: In March 2016, Eversource parent issued $250 million of 2.50 percent Series I Senior Notes due to mature in 2021 and $250 million of 3.35 percent Series J Senior Notes due to mature in 2026. The proceeds, net of issuance costs, were used to repay short-term borrowings under the Eversource parent commercial paper program.

In May 2016, NSTAR Electric issued $250 million of 2.70 percent debentures, due to mature in 2026. The proceeds, net of issuance costs, were used to repay short-term borrowings under the NSTAR Electric commercial paper program and fund capital expenditures and working capital.

In June 2016, WMECO issued $50 million of 2.75 percent Series H Senior Notes, due to mature in 2026. The proceeds, net of issuance costs, were used to repay short-term borrowings.

Long-Term Debt Repayments: In May 2016, NSTAR Electric repaid at maturity $200 million variable rate debentures, using short term borrowings.

Debt Issuance Authorizations: On November 3, 2016, FERC authorized NPT to issue up to an aggregate of $800 million in short-term debt and long-term debt through December 31, 2018. On December 28, 2016, PURA approved Yankee Gas' request to extend the authorization period for issuance of up to $125 million in long-term debt from December 31, 2016 to December 31, 2017. On January 4, 2017, PURA approved CL&P's request for authorization up to $1.325 billion in long-term debt through December 31, 2020.

Long-Term Debt Provisions: The utility plant of CL&P, PSNH, Yankee Gas and NSTAR Gas is subject to the lien of each company's respective first mortgage bond indenture. The Eversource parent, NSTAR Electric and WMECO debt is unsecured. Additionally, the long-term debt agreements provide that Eversource and certain of its subsidiaries must comply with certain covenants as are customarily included in such agreements, including equity requirements for WMECO and NSTAR Gas. Under the equity requirements, WMECO must maintain a certain consolidated indebtedness to capitalization ratio as of the end of any fiscal quarter and NSTAR Gas' outstanding long-term debt must not exceed equity.

CL&P's obligation to repay the PCRBs is secured by first mortgage bonds. The first mortgage bonds contain similar terms and provisions as the applicable series of PCRBs. If CL&P fails to meet its obligations under the first mortgage bonds, then the holder of the first mortgage bonds (the issuer of the PCRBs) would have rights under the first mortgage bonds. CL&P's tax-exempt PCRBs will be subject to redemption at par on or after September 1, 2021. All other long-term debt securities are subject to make-whole provisions.

PSNH's obligation to repay the PCRBs is secured by first mortgage bonds and bond insurance. The first mortgage bonds contain similar terms and provisions as the PCRBs. If PSNH fails to meet its obligations under the first mortgage bonds, then the holder of the first mortgage bonds (the issuer of the PCRBs) would have rights under the first mortgage bonds. The PSNH Series A tax-exempt PCRBs are currently callable at 100 percent of par. The PCRBs bear interest at a rate that is periodically set pursuant to auctions. PSNH is not obligated to purchase these PCRBs, which mature in 2021, from the remarketing agent.

WMECO and Yankee Gas have certain long-term debt agreements that contain cross-default provisions. No other debt issuances contain cross-default provisions as of December 31, 2016.

Pre-1983 Spent Nuclear Fuel Obligation: Under the Nuclear Waste Policy Act of 1982, the DOE is responsible for the selection and development of repositories for, and the disposal of, spent nuclear fuel and high-level radioactive waste. CYAPC is obligated to pay the DOE for the costs to dispose of spent nuclear fuel and high-level radioactive waste generated prior to April 7, 1983 (pre-1983 Spent Nuclear Fuel) and recorded an accrual for the full liability thereof to the DOE. This liability accrues interest costs at the 3-month Treasury bill yield rate. For nuclear fuel used to generate electricity prior to April 7, 1983, payment may be made any time prior to the first delivery of spent fuel to the DOE. Fees for disposal of nuclear fuel burned on or after April 7, 1983 were billed to member companies and paid to the DOE.

As a result of consolidating CYAPC, Eversource has consolidated $180.0 million and $179.5 million, respectively, in pre-1983 spent nuclear fuel obligations to the DOE, which include accumulated interest costs of $131.2 million and $130.7 million as of December 31, 2016 and 2015, respectively. CYAPC maintains a trust to fund amounts due to the DOE for the disposal of pre-1983 spent nuclear fuel. For further information, see Note 5, "Marketable Securities," to the financial statements.

Long-Term Debt Maturities: Long-term debt maturities on debt outstanding for the years 2017 through 2021 and thereafter are shown below. These amounts exclude the CYAPC pre-1983 spent nuclear fuel obligation, net unamortized premiums, discounts and debt issuance costs, and other fair value adjustments as of December 31, 2016:



(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		WMECO
2017	$	745.0	$	250.0	$	400.0	$	70.0	$	—
2018	960.0		300.0		—		110.0		—
2019	800.0		250.0		—		150.0		—
2020	295.0		—		—		—		95.0
2021	871.3		—		—		371.3		250.0
Thereafter	5,665.3		1,990.3		1,700.0		375.0		220.0
Total	$	9,336.6	$	2,790.3	$	2,100.0	$	1,076.3	$	565.0