Ameren Illinois plans secured note sale to help fund tender offer

By Andrea Heisinger

New York, July 30 - Ameren Illinois Co. announced its plans to issue senior secured notes along with a tender offer for two series of outstanding senior secured notes in a press release on Monday.

The notes and tender offer are meant to reduce the weighted average interest rate of the subsidiary of St. Louis-based electric and natural gas company Ameren Corp. and enhance the maturity profile of its debt.

The senior secured notes would be issued to fund the purchases under the tender offer and to pay for related fees and expenses, according to the release. The bond deal would be done prior to the Aug. 24 expiration date of the tender offer.

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