By Lisa Kerner
Charlotte, N.C., Nov. 28 - Vectren Corp. subsidiary Vectren Utility Holdings, Inc., sold $125 million of its senior unsecured notes to various institutional investors through a private placement.
The notes will be issued in two tranches:
• $45 million of 3.20% series A senior notes due June 5, 2028; and
• $80 million of 4.25% series B senior notes due June 5, 2043.
Proceeds will be used to refinance existing debt that matures or is callable in 2013 and for general corporate purposes, a company news release said.
The notes will be issue on or about June 5, 2013.
Vectren is an Evansville, Ind.-based energy holding company.
| Issuer: | Vectren Utility Holdings, Inc.
|
| Issue: | Senior notes
|
| Amount: | $125 million
|
| Distribution: | Private placement
|
| Settlement date: | June 5, 2013
|
|
|
| Series A notes
|
| Amount: | $45 million
|
| Maturity: | June 5, 2028
|
| Coupon: | 3.20%
|
|
|
| Series B notes
|
| Amount: | $80 million
|
| Maturity: | June 5, 2043
|
| Coupon: | 4.25%
|
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