The investment-grade notes are due 2052

Davis Polk advised the joint book-running managers in connection with a Rule 144A / Regulation S offering of $500 million aggregate principal amount of 5.783% senior notes due 2052 by Niagara Mohawk Power Corporation. The notes were issued under a green financing framework.

Based in Syracuse, New York, Niagara Mohawk distributes electricity to approximately 1.7 million customers and natural gas to approximately 600,000 customers in upstate New York. Niagara Mohawk is an indirect wholly owned subsidiary of National Grid USA, which in turn is an indirect wholly owned subsidiary of National Grid plc, an international electricity and natural gas company based in the United Kingdom.

The Davis Polk corporate team included partner Reuven B. Young, and associate Tanu Sinha. Counsel Alon Gurfinkel provided tax advice. Counsel Michael Comstock provided environmental advice. Members of the Davis Polk team are based in the London and New York offices.

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