By Lisa Kerner
Charlotte, N.C., Aug. 26 - Vectren Corp. subsidiary Vectren Utility Holdings, Inc. priced $150 million of 10-year 3.72% senior notes to be privately placed with various institutional investors.
The notes will be issued on or about Dec. 5, according to an 8-K filing with the Securities and Exchange Commission.
Proceeds will be used to refinance debt and for general corporate purposes.
The company may prepay at any time all, or from time to time any part of, the notes in an amount not less than 5% of the total outstanding in the case of a partial prepayment at par plus a make-whole amount calculated using Treasuries plus 50 basis points.
The notes will be guaranteed by Indiana Gas Co., Inc., Southern Indiana Gas and Electric Co. and Vectren Energy Delivery of Ohio, Inc., wholly owned subsidiaries of Vectren Utility Holdings.
Vectren is an Evansville, Ind.-based energy holding company.
| Issuer: | Vectren Utility Holdings, Inc.
|
| Guarantors: | Indiana Gas Co., Inc., Southern Indiana Gas and Electric Co. and Vectren Energy Delivery of Ohio, Inc.
|
| Issue: | Senior notes
|
| Amount: | $150 million
|
| Maturity: | Dec. 5, 2023
|
| Coupon: | 3.72%
|
| Call option: | Make-whole call at Treasuries plus 50 basis points
|
| Pricing date: | Aug. 22
|
| Settlement date: | On or before Dec. 5
|
| Distribution: | Private placement
|
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