By Andrea Heisinger
New York, Dec. 8 - Wisconsin Electric Power Co. priced $250 million of 6.25% debentures due 2015 Monday to yield Treasuries plus 425 basis points, market sources said.
The notes (A1/A-/A+) priced at 99.941 to yield 6.261%. They have a make-whole call of Treasuries plus 50 bps.
Bookrunners were Banc of America Securities LLC, Goldman Sachs & Co., Morgan Stanley & Co. Inc. and SunTrust Robinson Humphrey.
Proceeds will be used to repay short-term debt and for working capital and general corporate purposes.
The electric and natural gas provider is based in Milwaukee.
| Issuer: | Wisconsin Electric Power Co.
|
| Issue: | Debentures
|
| Amount: | $250 million
|
| Maturity: | Dec. 1, 2015
|
| Bookrunners: | Banc of America Securities LLC, Goldman Sachs & Co., Morgan Stanley & Co. Inc., SunTrust Robinson Humphrey
|
| Coupon: | 6.25%
|
| Price: | 99.941
|
| Yield: | 6.261%
|
| Spread: | Treasuries plus 425 bps
|
| Call: | Make-whole at Treasuries plus 50 bps
|
| Trade date: | Dec. 8
|
| Settlement date: | Dec. 11
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A-
|
| Fitch: A+
|
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