By Lisa Kerner
Charlotte, N.C., Feb. 2 - Vectren Corp. subsidiary Vectren Utility Holdings, Inc. issued $100 million of 5% senior guaranteed notes due Feb. 3, 2042 in a private placement on Wednesday, according to a form 8-K filing with the Securities and Exchange Commission.
Proceeds will be used to repay short-term borrowings used to refinance Vectren Utility Holdings' $96.2 million of 5.95% senior notes due 2036, which were called at par and were retired on or about Nov. 21.
The notes have a make-whole call at Treasuries plus 50 basis points.
The notes are guaranteed by Vectren Utility Holdings subsidiaries Indiana Gas Co., Inc., Southern Indiana Gas and Electric Co. and Vectren Energy Delivery of Ohio, Inc.
Vectren is an Evansville, Ind.-based energy holding company.
| Issuer: | Vectren Utility Holdings, Inc.
|
| Guarantors: | Indiana Gas Co., Inc., Southern Indiana Gas and Electric Co. and Vectren Energy Delivery of Ohio, Inc.
|
| Issue: | Senior notes
|
| Amount: | $100 million
|
| Maturity: | Feb. 3, 2042
|
| Coupon: | 5%
|
| Call option: | Make whole at Treasuries plus 50 bps
|
| Settlement date: | Feb. 1
|
| Distribution: | Private placement
|
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