Chicago, March 11 – Indiana Power & Light Co., the principal subsidiary of Ipalco Enterprises, Inc., which does business as AES Indiana, sold $650 million of 5.7% first mortgage bonds due 2054, according to an 8-K filing with the Securities and Exchange Commission.
J.P. Morgan Securities LLC, PNC Capital Markets LLC and U.S. Bancorp Investments, Inc. were the bookrunners.
Proceeds will be used to repay amounts outstanding under a $300 million term loan due Nov. 19, 2024 and borrowings under the company’s $350 million revolver that matures on Dec. 22, 2027. Any remaining proceeds may be used for general corporate purposes.
The bonds are secured by a first mortgage lien.
The issuer, based in Indianapolis, provides electricity to that city.
| Issuer: | Indiana Power & Light Co.
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| Amount: | $650 million
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| Issue: | First mortgage bonds
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| Maturity: | 2054
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| Bookrunners: | J.P. Morgan Securities LLC, PNC Capital Markets LLC and U.S. Bancorp Investments, Inc.
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| Coupon: | 5.7%
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| Trade date: | March 7
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| Settlement date: | March 18
|
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