Wisconsin Electric Power launches $250 million 30-year debentures at Treasuries plus 90 bps

By Andrea Heisinger

New York, Dec. 5 - Wisconsin Electric Power Co. has launched a $250 million offering of 30-year debentures (A2/A-/A+) on Wednesday, a source away from the trade said.

The bonds launched at a spread of 90 basis points over Treasuries.

Bookrunners are Barclays, Goldman Sachs & Co., Mitsubishi UFJ Securities (USA) Inc. and Morgan Stanley & Co. LLC.

Co-managers are KeyBanc Capital Markets and PNC Capital Markets LLC.

Proceeds will be used to repay short-term debt, for working capital and for general corporate purposes.

Wisconsin Electric last tapped the bond market for a $300 million sale of 2.95% 10-year notes at Treasuries plus 105 bps on Sept. 7, 2011.

The electric, natural gas and steam utility subsidiary of Wisconsin Energy Corp. is based in Milwaukee.

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