By Lisa Kerner
Charlotte, N.C., Nov. 30 - Vectren Corp. subsidiary Vectren Utility Holdings, Inc. issued senior guaranteed notes totaling $150 million in a private placement on Wednesday, according to a form 8-K filing with the Securities and Exchange Commission.
The notes were issued in three series:
• $55 million of 4.67% series A notes due Nov. 30, 2021;
• $60 million of 5.02% series B notes due Nov. 30, 2026; and
• $35 million of 5.99% series C notes due Nov. 30, 2041.
Vectren first announced the note purchase agreement in April and said proceeds would be used to partially refinance $250 million of Vectren Utility's long-term debt maturing Dec. 1, 2011.
The notes have a make-whole call at Treasuries plus 50 basis points.
As previously reported, purchasers include Assurity Life Insurance Co., Pioneer Mutual Life Insurance Co., State Life Insurance Co., American United Life Insurance Co., Allstate Life Insurance Co., Phoenix Insurance Co., Unum Life Insurance Co. of America, Provident Life and Accident Insurance Co., Lincoln National Life Insurance Co., New York Life Insurance and Annuity Corp., New York Life Insurance Co., Metropolitan Life Insurance Co., Horizon Blue Cross and Blue Shield NJ, Mony Life Insurance Co. and AXA Equitable Life Insurance Co.
The notes are jointly and severally guaranteed by Vectren Utility's regulated utility subsidiaries, Southern Indiana Gas and Electric Co., Indiana Gas Co., Inc. and Vectren Energy Delivery of Ohio, Inc.
Vectren is an Evansville, Ind.-based energy holding company.
| Issuer: | Vectren Utility Holdings, Inc.
|
| Issue: | Senior notes
|
| Amount: | $150 million
|
| Pricing date: | April 5
|
| Settlement date: | Nov. 30
|
| Distribution: | Private placement
|
| Purchasers: | Assurity Life Insurance Co., Pioneer Mutual Life Insurance Co., State Life Insurance Co., American United Life Insurance Co., Allstate Life Insurance Co., Phoenix Insurance Co., Unum Life Insurance Co. of America, Provident Life and Accident Insurance Co., Lincoln National Life Insurance Co., New York Life Insurance and Annuity Corp., New York Life Insurance Co., Metropolitan Life Insurance Co., Horizon Blue Cross and Blue Shield NJ, Mony Life Insurance Co. and AXA Equitable Life Insurance Co.
|
|
|
| Series A notes
|
| Amount: | $55 million
|
| Coupon: | 4.67%
|
| Maturity: | Nov. 30, 2021
|
|
|
| Series B notes
|
| Amount: | $60 million
|
| Coupon: | 5.02%
|
| Maturity: | Nov. 30, 2026
|
|
|
| Series C notes
|
| Amount: | $35 million
|
| Coupon: | 5.99%
|
| Maturity: | Nov. 30, 2041
|
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