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Spire Missouri preps floating-rate first mortgage bonds due 2024
Chicago, Dec. 1 – Spire Missouri Inc. is offering a single tranche of floating-rate first mortgage bonds due 2024, according to a 424B3 filing with the Securities and Exchange Commission.
The coupon will be based on a margin over SOFR.
Starting on a specified date in 2022, the notes will be redeemable at par plus interest.
U.S. Bancorp Investments, Inc., RBC Capital Markets, LLC, Regions Securities LLC, TD Securities (USA) LLC and Well Fargo Securities, LLC are the joint bookrunners.
UMB Bank & Trust, NA is the trustee.
The company will use in-house counsel and will consult Akin Gump Strauss Hauer & Feld LLP.
Bracewell LLP is working as counsel for the underwriters.
Proceeds will be used to repay the company’s $250 million term loan, to repay short-term debt and for general corporate purposes.
Spire Missouri is the largest natural gas distribution utility in Missouri.
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