Investors seeking liquidity and a shorter amortization schedule forced Western Massachusetts Electric vehicle WMECO to widen offered spreads from initial guidance of 45 to 50 basis points over seven-year swaps to launch levels in the 55 basis point area, sources said. The final pricing spread for the 6.9-year offering was 60 basis points over swaps.

Prior to the deal's official launch, talk on the Street was that WMECO would have to widen offered spreads for the single-tranche fixed-rate offering in order to entice investors to buy the long-dated paper, which some thought spread out interest payments over too long a period.

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