Black Hills plans to issue fixed-rate notes in two tranches

By Devika Patel

Knoxville, Tenn., Sept. 26 – Black Hills Corp. intends to price fixed-rate notes in two parts, according to a 424B5 filing with the Securities and Exchange Commission.

The notes feature a make-whole call and then a par call.

BofA Securities, Inc. and U.S. Bancorp Investments Inc. are the bookrunners.

The Rapid City, S.D., utility company will use the proceeds to redeem or retire all of its $200 million of 5.875% notes due July 15, 2020, to repay some or all of its $400 million term loan and to repay some or all of its commercial paper.

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