Spire Missouri offers fixed-rate first mortgage bonds due 2033

By William Gullotti

Buffalo, N.Y., Feb. 6 – Spire Missouri Inc. is offering a single tranche of fixed-rate first mortgage bonds due 2033, according to a 424B3 filing with the Securities and Exchange Commission.

The bonds will feature a make-whole call until three months prior to maturity, followed by a par call.

BMO Capital Markets Corp., TD Securities (USA) LLC, U.S. Bancorp Investments, Inc., Wells Fargo Securities, LLC, Mizuho Securities USA LLC and Regions Securities LLC are the joint bookrunning managers for the offering.

UMB Bank & Trust, NA is the trustee.

The company will be advised by in-house counsel and Stinson LLP. Bracewell LLP is counsel to the underwriters.

Proceeds will be used to repay the company’s 2023 bonds, to repay short-term debt and for general corporate purposes. As of Dec. 31, 2022, the company’s outstanding short-term debt totaled $651.2 million with a weighted average interest rate of 4.9% and maturities ranging from one to 355 days.

Spire Missouri is the largest natural gas distribution utility in Missouri.

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