Alliant Energy enters up to $250 million term loan with Wells Fargo

By Jennifer Chiou

New York, Oct. 14 – Alliant Energy Corp. entered into on Oct. 7 a two-year term loan credit agreement with Wells Fargo Bank, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The credit agreement provides for an up to $250 million term loan, which will be used to repay Alliant’s $250 million aggregate principal amount of 4% senior notes due Oct. 15, 2014.

Under the agreement, the company has to maintain a debt-to-capital ratio of less than 65% on a consolidated basis.

The filing noted that the credit agreement contains a covenant that prohibits placing liens on any of the property of Alliant Energy or its subsidiaries with certain exceptions.

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

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