By Andrea Heisinger
Omaha, Sept. 21 - Great Plains Energy Inc. priced $100 million of 6.875% 10-year notes on Thursday at 99.484 to yield 6.948%, or Treasuries plus 225 basis points, according to a Securities and Exchange Commission filing.
The notes (Baa2/BBB-) have a make-whole call at Treasuries plus 35 bps.
The notes also carry a coupon step-up provision based on their credit rating.
J.P. Morgan Securities Inc. was the bookrunner.
Great Plains is the holding company for Kansas City Power & Light and Strategic Energy, LLC and is based in Kansas City, Mo.
| Issuer: | Great Plains Energy Inc.
|
| Issue: | Notes
|
| Amount: | $100 million
|
| Maturity: | Sept. 15, 2017
|
| Bookrunner: | J.P. Morgan Securities Inc.
|
| Coupon: | 6.875%
|
| Price: | 99.484
|
| Yield: | 6.948%
|
| Spread: | Treasuries plus 225 bps
|
| Call: | Make-whole at Treasuries plus 35 bps
|
| Trade date: | Sept. 20
|
| Settlement date: | Sept. 25
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB-
|
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