By Wendy Van Sickle
Columbus, Ohio, Oct. 19 – Spire Alabama Inc. on Oct. 13 settled a $175 million private placement of senior notes in two parts, and Spire Gulf Inc. settled a placement of $30 million 5.61% first mortgage bonds due Oct. 15, 2037, according to an 8-K filed with the Securities and Exchange Commission.
The Spire Alabama notes include $90 million of 5.32% series 2022A notes due Oct. 15, 2029 and $85 million of 5.41% series 2022B notes due Oct. 15, 2032.
Proceeds will be used to refinance debt and for general corporate purposes.
The Birmingham, Ala., company is a subsidiary of Spire Inc., a natural gas distribution company based in St. Louis.
| Issuer: | Spire Alabama Inc. and Spire Gulf Inc.
|
| Issue: | Senior notes and first-mortgage bonds
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| Amount: | $205 million
|
| Settlement date: | Oct. 13
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| Distribution: | Private placement
|
|
|
| Series 2022A
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| Issuer: | Spire Alabama Inc.
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| Issue: | Senior notes
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| Amount: | $90 million
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| Maturity: | Oct. 15, 2029
|
| Coupon: | 5.32%
|
|
|
| Series 2022B
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| Issuer: | Spire Alabama Inc.
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| Issue: | Senior notes
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| Amount: | $85 million
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| Maturity: | Oct. 15, 2032
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| Coupon: | 5.41%
|
|
|
| First-mortgage bonds
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| Issuer: | Spire Gulf Inc.
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| Issue: | First-mortgage bonds
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| Amount: | $30 million
|
| Maturity: | Oct. 15, 2037
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| Coupon: | 5.61%
|
|
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