The Massachusetts Municipal Wholesale Electric Co. took out $170 million of variable-rate debt last week, largely through a fixed-rate power supply revenue bond issue, to refinance costs related to its minority ownership of nuclear plants in Seabrook, N.H., and Waterford, Conn.

“The purpose is to diversify our debt portfolio with a more favorable mix of variable- and fixed-rate debt, which in turn hedges our exposure to the potential of rising interest rates,” chief executive Ronald DeCurzio said.

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