New Issue: Ameren Illinois sells $430 million 3.8% 10-year mortgage bonds at 82 bps over Treasuries

By Cristal Cody

Tupelo, Miss., May 14 – Ameren Illinois Co. priced $430 million of 3.8% 10-year first mortgage bonds (A1/A) at a spread of Treasuries plus 82 basis points on Monday, according to an FWP filing with the Securities and Exchange Commission.

The bonds were sold at 99.91 to yield 3.811%.

J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, U.S. Bancorp Investments Inc., Wells Fargo Securities LLC and SMBC Nikko Securities America, Inc. were the bookrunners.

Proceeds will be used to repay short-term debt.

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

Issuer:	Ameren Illinois Co.
Amount:	$500 million
Description:	First mortgage bonds
Maturity:	May 15, 2028
Bookrunners:	J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, U.S. Bancorp Investments Inc., Wells Fargo Securities LLC and SMBC Nikko Securities America, Inc.
Co-managers:	Drexel Hamilton, LLC, MFR Securities, Inc. and Samuel A. Ramirez & Co., Inc.
Coupon:	3.8%
Price:	99.91
Yield:	3.811%
Spread:	Treasuries plus 82 bps
Call feature:	Make-whole call before Feb. 15, 2028 at greater of par or Treasuries plus 15 bps; thereafter at par
Trade date:	May 14
Settlement date:	May 22
Ratings:	Moody’s: A1
	S&P: A
Distribution:	SEC registered

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.