By Andrea Heisinger
New York, Nov. 14 - Wisconsin Power and Light Co. sold $250 million of 2.25% 10-year senior notes on Wednesday at a spread of 70 basis points over Treasuries, according to an FWP filing with the Securities and Exchange Commission.
The notes (A2/A-/) were offered at 99.609 to yield 2.294%. There is a make-whole call at Treasuries plus 12.5 bps until Aug. 15, 2022, with a par call after that date.
Bank of America Merrill Lynch, Citigroup Global Markets Inc. and Mitsubishi UFJ Securities (USA) Inc. were the bookrunners.
Proceeds, along with those from the sale of equities and commercial paper, will be used to fund a portion of the purchase price of Riverside Energy Center on or before Dec. 31.
There is a mandatory call at 101 if the Riverside acquisition is not done by April 1, 2013.
The Madison, Wis.-based public utility distributes electricity and natural gas to central and southern Wisconsin.
| Issuer: | Wisconsin Power & Light Co.
|
| Issue: | Debentures
|
| Amount: | $250 million
|
| Maturity: | Nov. 15, 2022
|
| Bookrunners: | Bank of America Merrill Lynch, Citigroup Global Markets Inc., Mitsubishi UFJ Securities (USA) Inc.
|
| Co-managers: | BNY Mellon Capital Markets LLC, KeyBanc Capital Markets LLC, Mizuho Securities USA Inc., Mischler Financial Group Inc.
|
| Coupon: | 2.25%
|
| Price: | 99.609
|
| Yield: | 2.294%
|
| Spread: | Treasuries plus 70 bps
|
| Call: | Make-whole at Treasuries plus 12.5 bps until Aug. 15, 2022, par call after
|
| Trade date: | Nov. 14
|
| Settlement date: | Nov. 19
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A-
|
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