By Mary-Katherine Stinson and Cristal Cody
Lexington, Ky., Sept. 28 – Atmos Energy Corp. sold $800 million in senior notes due 2032 and 2052 (A1/A-), according to an FWP filing with the Securities and Exchange Commission.
The $300 million 5.45% senior notes due Oct. 15, 2032 priced at 99.776 to yield 5.479%, or 152 basis points over Treasuries. Talk was in the 175 bps to 180 bps area.
The $500 million 5.75% senior notes due Oct. 15, 2052 priced at 99.586 to yield 5.779%, or 195 bps over Treasuries. The notes were talked in the 205 bps to 210 bps area.
The 2032 notes may be redeemed at any time at a make-whole premium plus 25 bps over Treasuries until the par call date, July 15, 2032. The 2052 notes may be redeemed at any time at a make-whole premium plus 30 bps over Treasuries until the par call date on April 15, 2052.
Mizuho Securities USA LLC, TD Securities (USA) LLC, U.S. Bancorp Investments, Inc., Credit Agricole Securities (USA) Inc., J.P. Morgan Securities LLC, MUFG Securities Americas Inc. and Truist Securities, Inc. are the joint bookrunning managers.
Proceeds will be used for general corporate purposes, including the repayment of working capital borrowings related to the company’s commercial paper program.
Atmos Energy is a natural gas distributor and pipeline company based in Dallas.
| Issuer: | Atmos Energy Corp.
|
| Amount: | $800 million
|
| Issue: | Senior notes
|
| Bookrunners: | Mizuho Securities USA LLC, TD Securities (USA) LLC, U.S. Bancorp Investments, Inc., Credit Agricole Securities (USA) Inc., J.P. Morgan Securities LLC, MUFG Securities Americas Inc. and Truist Securities, Inc.
|
| Senior co-manager: | Regions Securities LLC
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| Co-managers: | BOK Financial Securities, Inc. and Fifth Third Securities, Inc.
|
| Trustee: | U.S. Bank Trust Co., NA
|
| Counsel to issuer: | Gibson, Dunn & Crutcher LLP and Hunton Andrews Kurth LLP
|
| Counsel to bookrunners: | Shearman & Sterling LLP
|
| Trade date: | Sept. 27
|
| Settlement date: | Oct. 3
|
| Ratings: | Moody’s: A1
|
| S&P: A-
|
|
|
| 2032 Notes
|
| Amount: | $300 million
|
| Maturity: | Oct. 15, 2032
|
| Coupon: | 5.45%
|
| Price: | 99.776
|
| Yield: | 5.479%
|
| Spread: | Treasuries plus 152 bps
|
| Call: | Make-whole call at Treasuries plus 25 bps; par call starting July 15, 2032
|
| Cusip: | 049560AX3
|
| Price talk: | Treasuries plus 175 bps to 180 bps area
|
|
|
| 2052 Notes
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| Amount: | $500 million
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| Maturity: | Oct. 15, 2052
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| Coupon: | 5.75%
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| Price: | 99.586
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| Yield: | 5.779%
|
| Spread: | Treasuries plus 195 bps
|
| Call: | Make-whole call at Treasuries plus 30 bps; par call starting April 15, 2052
|
| Cusip: | 049560AY1
|
| Price talk: | Treasuries plus 205 bps to 210 bps area
|
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