By Andrea Heisinger
New York, Aug. 13 - Ameren Illinois Co. was in the market with a $400 million offering of 2.7% 10-year senior secured notes on Monday that priced to yield Treasuries plus 105 basis points, a market source said.
The notes (A3/BBB/BBB+) were sold at 99.964 to yield 2.704%. There is a make-whole call at 15 bps over Treasuries until June 1, 2022 and a par call after that date.
Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and UBS Securities LLC were the active bookrunners. Passive bookrunners were RBS Securities Inc. and Scotia Capital (USA) Inc.
Co-manager was Loop Capital Markets LLC.
Proceeds will be used to provide funds to complete a tender offer and to repurchase all or a portion of $51.1 million of 5.5% notes due 2014.
The electric and natural gas subsidiary of Ameren Corp. is based in St. Louis.
| Issuer: | Ameren Illinois Co.
|
| Issue: | Senior secured notes
|
| Amount: | $400 million
|
| Maturity: | Sept. 1, 2022
|
| Bookrunners: | Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, UBS Securities LLC (active), RBS Securities Inc., Scotia Capital (USA) Inc. (passive)
|
| Co-manager: | Loop Capital Markets LLC
|
| Coupon: | 2.7%
|
| Price: | 99.964
|
| Yield: | 2.704%
|
| Spread: | Treasuries plus 105 bps
|
| Call: | Make-whole at Treasuries plus 15 bps until June 1, 2022, par call after
|
| Trade date: | Aug. 13
|
| Settlement date: | Aug. 20
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: BBB
|
| Fitch: BBB+
|
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