New Issue: Ameren Illinois prices $300 million 3.25% 10.25-year secured notes at 97 bps spread

By Aleesia Forni

Virginia Beach, Dec. 3 – Ameren Illinois Co. priced $300 million of 3.25% senior secured notes (A2/A/A-/) due March 1, 2025 at Treasuries plus 97 basis points, according to a market source and an FWP filed with the Securities and Exchange Commission.

Pricing was at 99.943 to yield 3.257%.

The company intends to use the proceeds of the offering to repay a portion of its short-term debt, consisting of commercial paper issuances and borrowings under the Ameren utility money pool.

BNP Paribas Securities Corp., BofA Merrill Lynch, J.P. Morgan Securities LLC and TD Securities (USA) LLC were the bookrunners.

Ameren Illinois is a subsidiary of St. Louis-based electric and natural gas company Ameren Corp.

Issuer:	Ameren Illinois Co.
Amount:	$300 million
Description:	Senior secured notes
Maturity:	March 1, 2025
Bookrunners:	BNP Paribas Securities Corp., BofA Merrill Lynch, J.P. Morgan Securities LLC, TD Securities (USA) LLC
Co-managers:	KeyBanc Capital Markets, SunTrust Robinson Humphrey Inc., U.S. Bancorp Investments Inc., CastleOak Securities LP, Drexel Hamilton
Coupon:	3.25%
Price:	99.943
Yield:	3.257%
Spread:	Treasuries plus 97 bps
Make-whole call:	Treasuries plus 15 bps prior to Dec. 1, 2024, then callable at par
Trade date:	Dec. 3
Settlement date:	Dec. 10
Ratings:	Moody’s: A2
	Standard & Poor's: A
	Fitch: A-
Distribution:	SEC registered
Price talk:	100 bps area

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