By Devika Patel and Cristal Cody
Knoxville, Tenn., April 8 – Northern Natural Gas Co. issued $550 million of 3.4% notes due Oct. 16, 2051 on Wednesday, according to a market source.
The bonds priced at Treasuries plus 110 basis points. The notes were talked in the Treasuries plus 135 bps area.
Mizuho Securities USA Inc., RBC Capital Markets Corp., Scotia Capital (USA) Inc., U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC were the bookrunners.
Northern Natural Gas is a Berkshire Hathaway Energy Co. subsidiary based in Omaha.
| Issuer: | Northern Natural Gas Co.
|
| Issue: | Notes
|
| Amount: | $550 million
|
| Maturity: | Oct. 16, 2051
|
| Bookrunners: | Mizuho Securities USA Inc., RBC Capital Markets Corp., Scotia Capital (USA) Inc., U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC
|
| Coupon: | 3.4%
|
| Spread: | Treasuries plus 110 bps
|
| Pricing date: | April 7
|
| Price guidance: | Treasuries plus 135 bps area
|
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