By Aleesia Forni
Virginia Beach, March 31 – Union Electric Co., doing business as Ameren Missouri Co., sold a $250 million issue (A2/A) of 3.65% 30-year senior secured notes on Tuesday at Treasuries plus 112.5 basis points, according to a market source and an FWP filed with the Securities and Exchange Commission.
Pricing was at 99.764 to yield 3.663%.
The notes sold at the tight end of guidance.
MUFG, Morgan Stanley & Co. LLC, RBC Capital Markets LLC and Wells Fargo Securities LLC were the joint bookrunners.
The notes will be secured by a series of the company’s first mortgage bonds.
Proceeds will be used to repay a portion of the company’s short-term debt.
The public utility holding company and unit of Ameren Corp. is based in St. Louis.
| Issuer: | Ameren Missouri Co.
|
| Amount: | $250 million
|
| Description: | Senior secured notes
|
| Maturity: | April 15, 2045
|
| Bookrunners: | MUFG, Morgan Stanley & Co. LLC, RBC Capital Markets LLC, Wells Fargo Securities LLC
|
| Co-managers: | Goldman Sachs & Co., SMBC Nikko Securities America Inc., SunTrust Robinson Humphrey Inc., TD Securities (USA) Inc., Blaylock Beal Van LLC, C.L. King & Associates
|
| Coupon: | 3.65%
|
| Price: | 99.764
|
| Yield: | 3.663%
|
| Spread: | 112.5 bps over Treasuries
|
| Make-whole call: | 20 bps prior to Oct. 15, 2044, then callable at par
|
| Trade date: | March 31
|
| Settlement date: | April 6
|
| Ratings: | Moody’s: A2
|
| Standard & Poor’s: A
|
| Distribution: | SEC registered
|
| Price guidance: | 115 bps area over Treasuries, tightened from 125 bps area
|
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