Westar Energy pricing $550 million of bonds in 10-, 30-year tranches

By Aleesia Forni

Virginia Beach, Nov. 5 – Westar Energy, Inc. plans to price $550 million of first mortgage bonds in two tranches, according to a 424B5 filed with the Securities and Exchange Commission on Thursday.

The sale includes a $250 million tranche of bonds due 2025 and a $300 million tranche due 2045.

BofA Merrill Lynch, BNY Mellon Capital Markets LLC, Citigroup Global Markets Inc. and Wells Fargo Securities LLC are the bookrunners.

Proceeds from the tranche due 2045 will be used to redeem $300 million of 8.625% mortgage bonds due 2018, while proceeds from the tranche of bonds due 2025 will be used to repay debt under a commercial paper program.

Westar Energy is a Topeka, Kansas-based based electric utility.

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