New Issue: AGL sells $250 million 3.875% 10-year notes at 160 bps over Treasuries

By Cristal Cody

Tupelo, Miss., Nov. 13 – AGL Capital Corp. sold $250 million of 3.875% 10-year senior notes at 99.91 to yield 3.886% on Friday, according to an FWP filing with the Securities and Exchange Commission.

The notes (Baa1/BBB+/BBB+) priced with a spread of 160 basis points over Treasuries.

MUFG, SunTrust Robinson Humphrey, Inc. Wells Fargo Securities, LLC and Morgan Stanley & Co. LLC were the bookrunners.

Proceeds will be used to repay outstanding short-term debt and for general corporate purposes.

AGL Capital is an Atlanta-based subsidiary of energy services holding company AGL Resources, Inc.

Issuer:	AGL Capital Corp.
Guarantor:	AGL Resources Inc.
Amount:	$250 million
Maturity:	Nov. 15, 2025
Securities:	Senior notes
Bookrunners:	MUFG, SunTrust Robinson Humphrey, Inc. Wells Fargo Securities, LLC, Morgan Stanley & Co. LLC
Co-managers:	BofA Merrill Lynch, U.S. Bancorp Investments, Inc., Fifth Third Securities, Inc., J.P. Morgan Securities LLC, Loop Capital Markets LLC, Scotia Capital (USA) Inc.
Coupon:	3.875%
Price:	99.91
Yield:	3.886%
Spread:	160 bps over Treasuries
Make-whole call:	Prior to Aug. 15, 2025 at Treasuries plus 25 bps
Trade date:	Nov. 13
Settlement date:	Nov. 18
Ratings:	Moody’s: Baa1
	Standard & Poor’s: BBB+
	Fitch: BBB+
Distribution:	SEC registered

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