New Issue: Spire Missouri sells $400 million of 4.8% 10-year mortgage bonds at 120 bps spread

By Wendy Van Sickle

Columbus, Ohio, Feb. 6 – Spire Missouri Inc. sold $400 million of 4.8% 10-year first mortgage bonds (A1/A) on Monday at Treasuries plus 120 basis points, according to an FWP filed with the Securities and Exchange Commission.

The notes priced at 99.85 to yield 4.819%.

BMO Capital Markets Corp., TD Securities (USA) LLC, U.S. Bancorp Investments, Inc., Wells Fargo Securities, LLC, Mizuho Securities USA LLC and Regions Securities LLC are the bookrunners.

Proceeds will be used to repay the company’s 2023 bonds, to repay short-term debt and for general corporate purposes.

Spire Missouri is the largest natural gas distribution utility in Missouri.

Issuer:	Spire Missouri Inc.
Amount:	$400 million
Issue:	First mortgage bonds
Maturity:	Feb. 15, 2033
Bookrunners:	BMO Capital Markets Corp., TD Securities (USA) LLC, U.S. Bancorp Investments, Inc., Wells Fargo Securities, LLC, Mizuho Securities USA LLC and Regions Securities LLC
Co-managers:	Academy Securities, Inc., C.L. King & Associates, Inc. and Samuel A. Ramirez & Co., Inc.
Trustee:	UMB Bank & Trust, NA
Counsel to issuer:	In-house counsel and Stinson LLP
Counsel to underwriters:	Bracewell LLP
Coupon:	4.8%
Price:	99.85
Yield:	4.819%
Spread:	Treasuries plus 120 bps
Call:	Make-whole call at Treasuries plus 20 bps until Nov. 15, 2023; par call thereafter
Trade date:	Feb. 6
Settlement date:	Feb. 13
Ratings:	Moody’s: A1
	S&P: A
Distribution:	SEC registered
Cusip:	84859DAC1

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