By Cristal Cody
Tupelo, Miss., March 25 – Interstate Power and Light Co. priced $300 million of 3.6% 10-year green senior debentures (Baa1/A-) on Monday at 99.867 to yield 3.616%, according to an FWP filing with the Securities and Exchange Commission.
The bonds priced with a spread of Treasuries plus 120 basis points.
Barclays, J.P. Morgan Securities LLC and Mizuho Securities USA Inc. were the bookrunners.
Proceeds will be used for construction and development of eligible green projects.
The electric and natural gas subsidiary of Alliant Energy Corp. is based in Cedar Rapids, Iowa.
| Issuer: | Interstate Power and Light Co.
|
| Amount: | $300 million
|
| Description: | Senior debentures
|
| Maturity: | April 1, 2029
|
| Bookrunners: | Barclays, J.P. Morgan Securities LLC and Mizuho Securities USA Inc.
|
| Co-managers: | KeyBanc Capital Markets Inc., Samuel A. Ramirez & Co. Inc. and U.S. Bancorp Investments Inc.
|
| Coupon: | 3.6%
|
| Price: | 99.867
|
| Yield: | 3.616%
|
| Spread: | Treasuries plus 120 bps
|
| Call feature: | Make-whole call before Jan. 1, 2029 at Treasuries plus 20 bps; thereafter at par
|
| Trade date: | March 25
|
| Settlement date: | April 1
|
| Ratings: | Moody’s: Baa1
|
| S&P: A-
|
| Distribution: | SEC registered
|
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