By Andrea Heisinger
Omaha, Aug. 23 - MidAmerican Energy Holdings Co. priced an upsized $1 billion of 6.5% 30-year notes to yield 164 basis points over Treasuries on Thursday, according to an informed source.
The size and tenor of the issue were increased from initial talk for a $750 million offering of 10-year notes, a market source said.
The notes (Ba1/BBB+) had a price of 99.147 to yield 6.565%.
Lehman Brothers Inc. was the bookrunner.
Des Moines, Iowa-based MidAmerican provides electricity and natural gas to customers throughout the Midwest.
| Issuer: | MidAmerican Energy Holdings Co.
|
| Amount: | $1 billion, upsized from $750 million
|
| Maturity: | Sept. 15, 2037
|
| Security description: | Senior notes
|
| Coupon: | 6.5%
|
| Price: | 99.147
|
| Yield: | 6.565%
|
| Spread: | 164 bps
|
| Call: | Make-whole at Treasuries plus 25 bps
|
| Trade date: | Aug. 23
|
| Settlement date: | Aug. 28
|
| Bookrunner: | Lehman Brothers Inc.
|
| Ratings: | Moody's: Ba1
|
| Standard & Poor's: BBB+
|
| Price talk: | None
|
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