By Lisa Kerner
Charlotte, N.C., Oct. 21 - Vectren Corp. subsidiary Vectren Utility Holdings, Inc. entered into a private placement note purchase agreement with various institutional investors to sell $100 million of 5% senior notes due Feb. 3, 2042.
Proceeds will be used to refinance Vectren Utility's $96.2 million of 5.95% senior notes due 2036, which are expected to be called at par and retired on or about Nov. 21, according to a company news release.
Vectren expects the new 5% notes to be issued on or about Feb. 1.
The notes will not be registered under the Securities Act of 1933 or any state securities laws.
Vectren is an Evansville, Ind.-based energy holding company.
| Issuer: | Vectren Utility Holdings, Inc.
|
| Issue: | Senior notes
|
| Amount: | $100 million
|
| Maturity: | Feb. 3, 2042
|
| Coupon: | 5%
|
| Pricing date: | Oct. 21
|
| Settlement date: | On or about Feb. 1
|
| Distribution: | Private placement
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
