New Issue: Ameren Illinois prices $500 million 4.5% mortgage bonds due 2049 at 107 bps spread

By Cristal Cody

Tupelo, Miss., Nov. 5 – Ameren Illinois Co. sold $500 million of 4.5% first mortgage bonds due March 15, 2049 (A1/A) at a spread 107 basis points over Treasuries on Monday, according to an FWP filing with the Securities and Exchange Commission.

The bonds priced at 99.907 to yield 4.506%.

BNP Paribas Securities Corp., Goldman Sachs & Co. LLC, BofA Merrill Lynch, Mizuho Securities USA LLC, SunTrust Robinson Humphrey, Inc. and KeyBanc Capital Markets Inc. were the lead managers.

Proceeds will be used to repay at maturity $312.9 million of 9.75% senior secured notes due Nov. 15, 2018 and to repay short-term debt, which as of Nov. 2 consisted of $139.6 million of outstanding commercial paper and borrowings of $34.5 million under the Ameren utility money pool.

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:	March 15, 2049
Bookrunners:	BNP Paribas Securities Corp., Goldman Sachs & Co. LLC, BofA Merrill Lynch, Mizuho Securities USA LLC, SunTrust Robinson Humphrey, Inc. and KeyBanc Capital Markets LLC
Co-managers:	Academy Securities, Inc., C.L. King & Associates, Inc. and Loop Capital Markets, LLC
Coupon:	4.5%
Price:	99.907
Yield:	4.506%
Spread:	Treasuries plus 107 bps
Call feature:	Make-whole call before Sept. 15, 2048 at greater of par or Treasuries plus 20 bps; thereafter at par
Trade date:	Nov. 5
Settlement date:	Nov. 15
Ratings:	Moody’s: A1
	S&P: A
Distribution:	SEC registered

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