Published on 3/24/2008 in the Prospect News Investment Grade Daily.
New Issue: Allete prices $75 million 6.02% 15-year first mortgage bonds in private offering
By Andrea Heisinger
Omaha, March 24 - Allete, Inc. priced $75 million of 6.02% 15-year first mortgage bonds in a private offering, according to an 8-K Securities and Exchange Commission filing.
Proceeds will be used for utility capital expenditures and general corporate purposes.
The electric company is based in Duluth, Minn.
Issuer: | Allete, Inc.
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Issue: | First mortgage bonds
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Amount: | $75 million
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Maturity: | 2023
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Coupon: | 6.02%
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Trade date: | March 20 |
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Settlement date: | On or before May 14
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Distribution: | Rule 144A
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