NiSource postpones remarketing of mandatory convertible preferreds

Chicago, Sept. 28 – NiSource Inc. decided to postpone the remarketing of its $862.5 million of $1,000-par series C mandatory convertible preferred stock originally issued in April 2021 as part of its 7.75% equity units, according to a press release.

The company cited market conditions as the reason for the decision.

The optional remarketing period was scheduled to start Oct. 2 and end on Oct. 23.

The company is going to push the marketing to the next remarketing period in November.

Goldman Sachs & Co. LLC is expected to continue acting as the remarketing agent for the remarketing.

NiSource is a Merrillville, Ind.-based utility company.

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