Ameren Illinois to price 10-year first mortgage bonds

By William Gullotti

Buffalo, N.Y., Aug. 15 – Ameren Illinois Co. intends to sell first mortgage bonds due 2032, according to a 424B3 filed with the Securities and Exchange Commission.

The bonds will feature a make-whole call until three months prior to maturity and then are callable at par.

BNY Mellon Capital Markets, LLC, Mizuho Securities USA LLC, Morgan Stanley & Co. LLC, Truist Securities, Inc. and Wells Fargo Securities, LLC are the joint bookrunning managers for the offering with CastleOak Securities, LP, Penserra Securities LLC, R. Seelaus & Co., LLC and Siebert Williams Shank & Co., LLC serving as co-managers.

Bank of New York Mellon Trust Co., NA is the trustee.

Morgan, Lewis & Bockius LLP and in-house counsel will advise the issuer. Pillsbury Winthrop Shaw Pittman LLP is counsel to the underwriters.

Proceeds will be used to repay the company’s $400 million 2.7% secured notes at maturity on Sept. 1, 2022 and to repay a portion of the company’s short-term debt. As of Aug. 12, the company’s short-term debt consisted of commercial paper totaling $179.3 million with maturities of up to 17 days and a weighted-average interest rate of 2.64%

Ameren Illinois is a subsidiary of St. Louis-based electric and natural gas company Ameren Corp.

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