Union Electric (Ameren Missouri) offers mortgage bonds due 2054

Chicago, Jan. 3 – Union Electric Co., doing business as Ameren Missouri, plans to sell fixed-rate first mortgage bonds due 2054, according to a 424B3 filing with the Securities and Exchange Commission on Wednesday morning.

The bonds will be callable with a make-whole premium until they become callable at par in the six months before the maturity date.

BofA Securities, Inc., RBC Capital Markets, LLC, SMBC Nikko Securities America, Inc. and Truist Securities, Inc. are working as bookrunners.

Bank of New York Mellon is the trustee.

Counsel for the issuer is provided by Morgan, Lewis & Bockius LLP and by in-house counsel. In-house counsel will be in charge of matters pertaining to Missouri Law. Morgan, Lewis & Bockius will handle matters of New York law. Counsel for the underwriters is Pillsbury Winthrop Shaw Pittman LLP.

Proceeds will be used to fund capital expenditures and/or refinance short-term debt. As of Jan. 2, short-term debt consisted of $170 million of commercial paper with a 5.68% interest rate and $317 million in overnight borrowings under the Ameren utility money pool with a weighted average interest rate of 5.3%.

A St. Louis-based subsidiary of Ameren Corp., Ameren Missouri operates a rate-regulated electric generation, transmission and distribution business and a rate-regulated natural gas distribution business in Missouri.

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