By Aleesia Forni and Andrea Heisinger
New York, March 11 - Kansas City Power & Light Co. sold $300 million of 3.15% 10-year senior notes (Baa2/BBB/) on Monday to yield 110 basis points over Treasuries, according to an FWP filing with the Securities and Exchange Commission.
Pricing was at 99.906 to yield 3.161%. There is a make-whole call at Treasuries plus 20 bps until Dec. 15, 2022, with a par call after that date.
BNP Paribas Securities Corp., BofA Merrill Lynch and Mitsubishi UFJ Securities (USA) Inc. were the bookrunners.
Proceeds will be used to repay all or a portion of the company's outstanding commercial paper and for general corporate purposes.
The electric utility is based in Kansas City, Mo.
| Issuer: | Kansas City Power & Light Co.
|
| Issue: | Senior notes
|
| Amount: | $300 million
|
| Maturity: | March 15, 2023
|
| Bookrunners: | BNP Paribas Securities Corp., BofA Merrill Lynch, Mitsubishi UFJ Securities (USA) Inc.
|
| Co-managers: | BNY Mellon Capital Markets LLC, Scotia Capital (USA) Inc.
|
| Coupon: | 3.15%
|
| Price: | 99.906
|
| Yield: | 3.161%
|
| Spread: | Treasuries plus 110 bps
|
| Call: | Make-whole at Treasuries plus 20 bps to Dec. 15, 2022, par call after
|
| Trade date: | March 11
|
| Settlement date: | March 14
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A
|
| Fitch: A
|
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