AGL Capital pricing $500 million 30-year senior notes Monday

By Andrea Heisinger

New York, May 13 - AGL Capital Corp. is set to sell $500 million of 30-year senior notes (Baa1/BBB+/BBB+) on Monday, according to a market source and a 424B5 filing with the Securities and Exchange Commission.

The notes are guaranteed by AGL Resources, Inc.

Active bookrunners are BofA Merrill Lynch, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC. Passive bookrunners are Mitsubishi UFJ Securities (USA) Inc. and Wells Fargo Securities LLC.

Co-managers are SunTrust Robinson Humphrey Inc., U.S. Bancorp Investments Inc., BB&T Capital Markets, Fifth Third Securities Inc. and RBS Securities Inc.

Proceeds will be used for general corporate purposes, including repayment of short-term debt incurred under a commercial paper program.

AGL Capital was last in the U.S. bond market with a $500 million sale in two tranches on Sept. 15, 2011. That trade included a reopening of 5.875% bonds due 2041 priced at Treasuries plus 165 basis points.

The energy services holding company is based in Atlanta.

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