By Andrea Heisinger
New York, May 16 - Great Plains Energy Inc. priced $350 million of 4.85% 10-year notes on Monday to yield Treasuries plus 170 basis points, according to an FWP filing with the Securities and Exchange Commission.
The notes (Baa3/BBB-/) were priced at 99.904 to yield 4.862%.
The notes are callable at the greater of par or a make-whole of 25 bps over Treasuries prior to March 1, 2021 and afterward at par.
Bank of America Merrill Lynch, J.P. Morgan Securities LLC and Mitsubishi UFJ Securities (USA) LLC were the bookrunners.
Senior co-manager was U.S. Bancorp Investments Inc., and Valdes & Moreno Inc. was a co-manager.
Proceeds will be used to make an intercompany loan to Kansas City Power & Light Co. Greater Missouri Operations Co.
The holding company for electric subsidiaries is based in Kansas City, Mo.
| Issuer: | Great Plains Energy Inc.
|
| Issue: | Notes
|
| Amount: | $350 million
|
| Maturity: | June 1, 2021
|
| Bookrunners: | Bank of America Merrill Lynch, J.P. Morgan Securities LLC, Mitsubishi UFJ Securities (USA) LLC
|
| Senior co-manager: | U.S. Bancorp Investments Inc.
|
| Co-manager: | Valdes & Moreno Inc.
|
| Coupon: | 4.85%
|
| Price: | 99.904
|
| Yield: | 4.862%
|
| Spread: | Treasuries plus 170 bps
|
| Call: | Before March 1, 2021, at greater of par or make-whole of 25 bps over Treasuries, after at par
|
| Trade date: | May 16
|
| Settlement date: | May 19
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB-
|
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