The investment-grade notes are due 2030 and 2055

Davis Polk advised the joint book-running managers in connection with a Rule 144A / Regulation S offering of $500 million aggregate principal amount of 4.647% senior notes due 2030 and $750 million aggregate principal amount of 5.996% senior notes due 2055 by Niagara Mohawk Power Corporation.

Niagara Mohawk Power Corporation provides electric utility services to approximately 1.7 million customers and natural gas utility services to approximately 600,000 million customers in upstate New York. Niagara Mohawk Power Corporation 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 energy delivery company based in the United Kingdom.

The Davis Polk corporate team included partner Reuven B. Young and associates Gianna Ceophas and Matt Meagher. Counsel Alon Gurfinkel and associate Ya Sheng Lin provided tax advice. Counsel Mark Chalmers provided regulatory advice. Counsel Michael Comstock and associate Timothy J. Sullivan provided environmental advice. Members of the Davis Polk team are based in the London and New York offices.

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