Alliant Energy enters into $300 million two-year term loan

By Wendy Van Sickle

Columbus, Ohio, March 5 – Alliant Energy Corp. subsidiary Alliant Energy Finance, LLC entered into a $300 million two-year term loan on Tuesday, according to an 8-K filing with the Securities and Exchange Commission.

The interest rate is Libor plus a margin that ranges from 45 basis points to 65 bps, depending on the company’s ratings.

Keybanc Capital Markets Inc. is the lead arranger and bookrunner. Keybank NA is the administrative agent.

Alliant Energy guarantees the loan.

Proceeds may be used to refinance existing debt and for general corporate purposes.

The credit agreement contains covenants that, among other things, require Alliant Energy to maintain a debt-to-capital ratio of not greater than 65% on a consolidated basis.

Alliant Energy is a Madison, Wis., utility holding company.

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