The investment-grade notes are due 2032

Davis Polk advised the joint book-running managers in connection with a Rule 144A / Regulation S offering of $400 million aggregate principal amount of 3.757% senior notes due 2032 by Boston Gas Company, an indirect wholly owned subsidiary of National Grid plc.

Boston Gas owns and operates a natural gas distribution and storage system and provides natural gas to approximately 900,000 residential, commercial and industrial customers located in Boston, Essex County and various other counties and communities within eastern and central Massachusetts.

The Davis Polk corporate team included partner Reuven B. Young and associates Serdar Inci and Catherine Liu. Counsel Alon Gurfinkel and associate Veronica Davis provided tax advice. Counsel Michael Comstock provided environmental advice. Members of the Davis Polk team are based in the London and New York offices.