By Cristal Cody
Tupelo, Miss., Oct. 2 – Wisconsin Power & Light Co. sold $300 million of 3.05% 10-year debentures on Monday at 99.709 to yield 3.084%, according to a market source and an FWP filing with the Securities and Exchange Commission.
The bonds (A2/A) priced with a spread of 75 basis points over Treasuries, on the tight side of talk in the Treasuries plus 80 bps area.
Goldman Sachs & Co. J.P. Morgan Securities LLC and BofA Merrill Lynch were the bookrunners.
Proceeds will be used to reduce commercial paper and for general corporate purposes.
The Madison, Wis.-based public utility distributes electricity and natural gas to central and southern Wisconsin.
| Issuer: | Wisconsin Power & Light Co.
|
| Amount: | $300 million
|
| Description: | Debentures
|
| Maturity: | Oct. 15, 2027
|
| Bookrunners: | Goldman Sachs & Co. J.P. Morgan Securities LLC and BofA Merrill Lynch
|
| Co-managers: | MUFG, U.S. Bancorp Investments Inc. and Williams Capital Group LP
|
| Coupon: | 3.05%
|
| Price: | 99.709
|
| Yield: | 3.084%
|
| Spread: | Treasuries plus 75 bps
|
| Call features: | Make-whole call at Treasuries plus 15 bps; on or after July 15, 2027 at par
|
| Trade date: | Oct. 2
|
| Settlement date: | Oct. 10
|
| Ratings: | Moody’s: A2
|
| S&P: A
|
| Distribution: | SEC registered
|
| Price talk: | Treasuries plus 80 bps area
|
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