By Aleesia Forni
Virginia Beach, Sept. 8 – Indianapolis Power & Light Co. priced $260 million of 4.7% first mortgage bonds (A2/BBB+/BBB+) on Tuesday at Treasuries plus 175 basis points, a market source said.
The notes sold at the tight end of guidance set in the 180 bps area over Treasuries.
Bookrunners were BofA Merrill Lynch and U.S. Bancorp Investments Inc.
The electric company is based in Indianapolis.
| Issuer: | Indianapolis Power & Light
|
| Amount: | $260 million
|
| Description: | First mortgage bonds
|
| Maturity: | 2045
|
| Bookrunners: | BofA Merrill Lynch, U.S. Bancorp Investments Inc.
|
| Coupon: | 4.7%
|
| Spread: | Treasuries plus 175 bps
|
| Trade date: | Sept. 8
|
| Ratings: | Moody’s: A2
|
| Standard & Poor’s: BBB+
|
| Fitch: BBB+
|
| Distribution: | Rule 144A, Regulation S
|
| Price guidance: | Treasuries plus 180 bps area
|
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