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Prospect News home > News index > List of issuers I > Headlines for Integrys Energy Group Inc. > News item
Published on 11/14/2013 in the Prospect News Investment Grade Daily.

New Issue: Wisconsin Public Service sells $450 million 4.752% 31-year bonds at 90 bps spread

By Aleesia Forni

Virginia Beach, Nov. 14 - Wisconsin Public Service Corp. brought a $450 million issue of 4.752% senior notes (Aa3/A/) due Nov. 1, 2044 to the primary market on Thursday at a spread of Treasuries plus 90 basis points, according to an informed source and an FWP filing with the Securities and Exchange Commission.

The deal priced at par.

Deutsche Bank Securities Inc., Mizuho Securities USA Inc., Scotia Capital (USA) Inc., Goldman Sachs & Co., Mitsubishi UFJ Securities (USA) Inc. and U.S. Bancorp Investments Inc. were the joint bookrunners.

Proceeds will be used to partially finance the cost of the company's acquisition of Fox Energy Center, to refund outstanding long-term debt, to pay costs of construction or acquisition of other utility capital assets, to retire short-term debt and for other general corporate utility purposes.

The subsidiary of Integrys Energy Group, Inc. is based in Green Bay, Wis.

Issuer:Wisconsin Public Service Corp.
Amount:$450 million
Description:Senior notes
Maturity:Nov. 1, 2044
Bookrunners:Deutsche Bank Securities Inc., Mizuho Securities USA Inc., Scotia Capital (USA) Inc., Goldman Sachs & Co., Mitsubishi UFJ Securities (USA) Inc., U.S. Bancorp Investments Inc.
Co-managers:Comerica Securities Inc., Fifth Third Securities Inc., Huntington Investments Co., PNC Capital Markets LLC, Wedbush Securities Inc.
Coupon:4.752%
Price:Par
Yield:4.752%
Spread:Treasuries plus 90 bps
Trade date:Nov. 14
Settlement date:Nov. 21
Ratings:Moody's: A3
Standard & Poor's: A
Make-whole call: Treasuries plus 15 bps prior to May 1, 2044, then callable at par
Distribution:SEC registered

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