By Aleesia Forni
Virginia Beach, Dec. 5 - Ameren Illinois Co. sold $280 million of 4.8% 30-year senior secured notes (A3/A/BBB+) on Thursday at a spread of Treasuries plus 93 basis points, according to a market source and an FWP filed with the Securities and Exchange Commission.
Pricing was at 99.464 to yield 4.834%.
The notes sold at the tight end of talk.
The notes will be secured by a series of Ameren's first mortgage bonds until the release date.
Proceeds will be used to repay the company's 8.875% senior secured notes due Dec. 15, 2013 and to repay short-term debt.
BNP Paribas Securities Corp., BofA Merrill Lynch, Mitsubishi UFJ Securities and RBC Capital Markets LLC were the joint bookrunners.
Ameren Illinois is a subsidiary of St. Louis-based electric and natural gas company Ameren Corp.
| Issuer: | Ameren Illinois Co.
|
| Amount: | $280 million
|
| Description: | Senior secured notes
|
| Maturity: | Dec. 15, 2043
|
| Bookrunners: | BNP Paribas Securities Corp., BofA Merrill Lynch, Mitsubishi UFJ Securities, RBC Capital Markets LLC
|
| Co-managers: | SunTrust Robinson Humphrey Inc., TD Securities (USA) LLC, U.S. Bancorp Investments Inc., Drexel Hamilton LLC, Samuel A. Ramirez & Co. Inc.
|
| Coupon: | 4.8%
|
| Price: | 99.464
|
| Yield: | 4.834%
|
| Spread: | Treasuries plus 93 bps
|
| Trade date: | Dec. 5
|
| Settlement date: | Dec. 10
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A
|
| Fitch: BBB+
|
| Make-whole call: | Treasuries plus 20 bps prior to June 15, 2043, then callable at par
|
| Price talk: | Treasuries plus 95 bps area
|
| Distribution: | SEC-registered
|
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