Hubbell prices $1.9 billion senior notes offering for NSI acquisition

Hubbell Incorporated (NYSE: HUBB) priced a $1.9 billion senior notes offering consisting of three tranches with varying interest rates and maturity dates, according to a company statement.

The offering includes $500 million of 4.650% senior notes due 2031, $700 million of 4.900% senior notes due 2033, and $700 million of 5.150% senior notes due 2036. The offering is expected to close on June 8, 2026, subject to customary closing conditions.

Hubbell plans to use the net proceeds, along with cash on hand and additional borrowings, to finance its proposed acquisition of NSI Electrical Buyer, Inc. and its subsidiaries, repay certain existing NSI debt, and cover related transaction costs. Any remaining proceeds will be used for general corporate purposes.

J.P. Morgan Securities LLC, BofA Securities, Inc., and HSBC Securities (USA) Inc. are serving as joint book-running managers for the offering.

The notes are being offered through an effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission. Hubbell, based in Shelton, Connecticut, reported 2025 revenues of $5.8 billion and manufactures utility and electrical solutions.

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