NiSource amends 7.99%, 6.78% note indentures to facilitate sale

By Wendy Van Sickle

Columbus, Ohio, Dec. 18 – NiSource Inc. entered on Monday into supplemental indentures to the indentures governing its outstanding 7.99% medium-term notes due 2027 (Cusip: 65463PBA4) and the 6.78% senior notes due 2027 (Cusip: 654638AB1), according to an 8-K filing with the Securities and Exchange Commission.

The supplemental indentures give effect to written consents validly delivered and not revoked by holders representing $27.5 million, or 94.83% of the total principal amount of the 7.99% notes and all $3 million principal amount of the 6.78% notes under a consent solicitation that started on Nov. 7.

NiSource solicited consents from holders of the notes to approve a waiver of certain terms of the indentures that could trigger a default with respect to NiSource’s previously announced acquisition of a 19.9% interest in Northern Indiana Public Service Co. LLC by an affiliate of Blackstone Infrastructure Partners. The supplemental indenture to the 7.99% notes amends the covenant requiring that NiSource continue to own, directly or indirectly, all of Northern Indiana Public, to require that NiSource own, directly or indirectly, at least 70% of Northern Indiana Public.

NiSource is a Merrillville, Ind.-based utility company.

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