By Andrea Heisinger
New York, Nov. 12 - Ameren Energy Generating Co. priced $250 million of 6.3% senior unsecured notes due April 1, 2020 on Thursday to yield Treasuries plus 285 basis points, an informed source said.
The deal came at the tight end of price guidance that was in the 287.5 bps area, the source said.
The notes (Baa3/BBB-/BBB+) priced at 99.746 to yield 6.335%. They have a make-whole call at 45 bps over Treasuries.
Barclays Capital Inc., Morgan Stanley & Co., RBS Securities Inc. and Scotia Capital (USA) Inc. ran the books.
Co-managers were Fifth Third Bank, KeyBanc Capital Markets Inc., Loop Capital Markets LLC and Morgan Keegan & Co.
Proceeds are going to repay short-term debt incurred to finance capital expenditures and to fund other corporate requirements, as well as for general corporate purposes.
The indirect subsidiary of utility company Ameren Corp. is based in St. Louis.
| Issuer: | Ameren Energy Generating Co.
|
| Issue: | Senior unsecured notes
|
| Amount: | $250 million
|
| Maturity: | April 1, 2020
|
| Bookrunners: | Barclays Capital Inc., Morgan Stanley & Co., RBS Securities Inc., Scotia Capital (USA) Inc.
|
| Co-managers: | Fifth Third Bank, KeyBanc Capital Markets Inc., Loop Capital Markets LLC, Morgan Keegan & Co.
|
| Coupon: | 6.3%
|
| Price: | 99.746
|
| Yield: | 6.335%
|
| Spread: | Treasuries plus 285 bps
|
| Call: | Make-whole at Treasuries plus 45 bps
|
| Trade date: | Nov. 12
|
| Settlement date: | Nov. 17
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB-
|
| Fitch: BBB+
|
| Price talk: | 287.5 bps area
|
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