By Aleesia Forni
New York, Dec. 7 – Ameren Illinois Co. was in Monday’s market with a $250 million issue of 4.15% senior secured notes (A1/A/A) due March 15, 2046 priced at Treasuries plus 125 basis points, according to an FWP filed with the Securities and Exchange Commission.
Pricing was at 99.001 to yield 4.209%.
The notes sold at the tight side of guidance set in the Treasuries plus 130 bps area following initial talk in the 145 bps area over Treasuries.
The company intends to use the proceeds of the offering to repay a portion of its short-term debt, consisting of commercial paper issuances and borrowings under the Ameren utility money pool.
BNP Paribas Securities Corp., Goldman Sachs & Co., MUFG, SunTrust Robinson Humphrey Inc. and TD Securities (USA) LLC are the bookrunners.
Ameren Illinois is a subsidiary of St. Louis-based electric and natural gas company Ameren Corp.
| Issuer: | Ameren Illinois Co.
|
| Amount: | $250 million
|
| Description: | Senior secured notes
|
| Maturity: | March 15, 2046
|
| Bookrunners: | BNP Paribas Securities Corp., Goldman Sachs & Co., MUFG, SunTrust Robinson Humphrey Inc., TD Securities (USA) LLC
|
| Co-managers: | Apto Partners LLC, Loop Capital Markets, Siebert Brandford Shank & Co. LLC
|
| Coupon: | 4.15%
|
| Price: | 99.001
|
| Yield: | 4.209%
|
| Spread: | Treasuries plus 125 bps
|
| Make-whole call: | Treasuries plus 20 bps prior to Sept. 15, 2045, then callable at par
|
| Trade date: | Dec. 7
|
| Settlement date: | Dec. 14
|
| Ratings: | Moody’s: A1
|
| Standard & Poor’s: A
|
| Fitch: A
|
| Distribution: | SEC registered
|
| Price guidance: | Treasuries plus 130 bps area, tightened from Treasuries plus 145 bps area
|
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