Ameren Illinois to price 10-year first mortgage bonds

By William Gullotti

Buffalo, N.Y., May 23 – Ameren Illinois Co. intends to sell first mortgage bonds due 2032, according to a 424B3 filed with the Securities and Exchange Commission.

The bonds will feature a make-whole call until three months prior to maturity and then are callable at par.

MUFG Securities Americas Inc., PNC Capital Markets LLC, Scotia Capital (USA) Inc., SMBC Nikko Securities America, Inc., Truist Securities, Inc. and Fifth Third Securities, Inc. are the joint bookrunning managers for the offering, with BNY Mellon Capital Markets, LLC acting as co-manager.

Bank of New York Mellon Trust Co., NA is the trustee.

Morgan, Lewis & Bockius LLP and in-house counsel will advise the issuer. Pillsbury Winthrop Shaw Pittman LLP is counsel to the underwriters.

Proceeds will be used to repay a portion of the company’s short-term debt and to repay $100 million principal amount of the 0.375% first mortgage bonds due June 15, 2023 upon maturity.

As of May 22, the company’s short-term debt consisted of commercial paper, of which approximately $344 million was outstanding with maturities of up to 18 days and a weighted-average interest rate of 5.32%.

Ameren Illinois is a subsidiary of St. Louis-based electric and natural gas company Ameren Corp.

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