By Devika Patel and Cristal Cody
Knoxville, Tenn., June 9 – Union Electric Co., doing business as Ameren Missouri, priced $525 million of 2.15% green first mortgage bonds (A2/A) due 2032 at 99.891 to yield 2.161% with a spread of Treasuries plus 67 basis points on Wednesday, according to an 8-K and an FWP filed with the Securities and Exchange Commission.
The notes were talked in the Treasuries plus 85 bps to 95 bps area.
BofA Securities Inc., Goldman Sachs & Co. LLC, Mizuho Securities USA Inc., SMBC Nikko Securities America Inc., Fifth Third Securities Inc. and PNC Capital Markets LLC are the bookrunners.
Proceeds will be used to repay short-term debt and for near-term capital expenditures that meet eligibility under the company’s green bond framework.
The green bond structuring agents are BofA Securities and Goldman Sachs.
Union Electric is a subsidiary of St. Louis-based electric and natural gas company Ameren Corp.
| Issuer: | Union Electric Co., doing business as Ameren Missouri
|
| Securities: | Green first mortgage bonds
|
| Amount: | $525 million
|
| Maturity: | March 15, 2032
|
| Bookrunners: | BofA Securities Inc., Goldman Sachs & Co. LLC, Mizuho Securities USA Inc., SMBC Nikko Securities America Inc., Fifth Third Securities Inc. and PNC Capital Markets LLC
|
| Co-managers: | Academy Securities Inc., C.L. King & Associates and Siebert Williams Shank & Co. LLC
|
| Coupon: | 2.15%
|
| Price: | 99.891
|
| Yield: | 2.161%
|
| Spread: | Treasuries plus 67 bps
|
| Call: | Make-whole call at Treasuries plus 10 bps until Dec. 15, 2031, then a par call
|
| Pricing date: | June 9
|
| Settlement date: | June 22
|
| Ratings: | Moody’s: A2
|
| S&P: A
|
| Guidance: | In the Treasuries plus 85 bps to 95 bps area
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