Key Highlights

  • Unitil placed $60 million of senior unsecured notes with five institutional purchasers under an agreement dated September 24, 2026.
  • Series 2026A notes total $27 million at 5.42% and mature September 24, 2031, while Series 2026B total $33 million.
  • Series 2026B notes carry a 5.79% interest rate, total $33 million and mature on September 24, 2036.
  • Proceeds will fund Capital contributions to Utility subsidiaries, refinance existing Debt and support general corporate purposes.

Unitil Corporation (NYSE:UTL) has placed $60 million of senior unsecured notes with five institutional purchasers, according to a Form 8-K filed on September 29, 2026.

The notes were issued under a note purchase agreement dated September 24, 2026, in two series: $27 million of Series 2026A notes due 2031 and $33 million of Series 2026B notes due 2036.

The Two Series

The Series 2026A notes carry an Interest Rate of 5.42% and mature on September 24, 2031. The Series 2026B notes carry an interest rate of 5.79% and mature on September 24, 2036. Both are senior unsecured notes, and together they raise $60,000,000, the sum of the $27,000,000 and $33,000,000 principal amounts.

The purchasers named in the filing are CoBank ACB, Thrivent Financial for Lutherans, Metlife Reinsurance Company of Hamilton Ltd., Modern Woodmen of America and CMFG Life insurance Company. The filing notes that some of the purchasers hold other indebtedness of the company. The notes are being sold in a private Placement to institutional investors under Section 4(a)(2) of the Securities Act of 1933, so they have not been registered and may not be offered or sold without registration or an applicable exemption.

Use of Proceeds

The filing says the company will use the proceeds for capital contributions to its utility subsidiaries, to refinance existing debt and for general corporate purposes. A capital contribution moves cash from the Parent Company to those subsidiaries.

Other Terms

A note purchase agreement of this kind is a private placement in which institutional buyers agree to purchase notes directly from the issuer, rather than through a public underwritten offering. Unitil's shares trade on the NYSE under the symbol UTL.

The note purchase agreement contains customary provisions, including covenants and events of default, and the filing states that the notes become immediately due upon a default of the type specified in the agreement. The forms of the two series of notes are filed as Exhibits 4.2 and 4.3.

The report is filed under the items covering the entry into a material agreement and the creation of a direct financial obligation, and it covers a period ending September 24, 2026. Daniel J. Hurstak, Senior Vice President, Chief Financial Officer and Treasurer, signed the 8-K on September 29, 2026, five days after the agreement date.

The interest rates of 5.42% and 5.79% apply to what are, by their Maturity dates, five-year and ten-year series.

Unitil's Note Maturities and Subsidiary Funding Ahead

Other points to follow are the interest paid on the two series, any further private placements the company announces, and the capital contributions to its utility subsidiaries. The next maturities in the filing are September 24, 2031 for the Series 2026A notes and September 24, 2036 for the Series 2026B notes.