Westar Energy gives details on $350 million 10-year green first mortgage bonds

By Lisa Kerner

Charlotte, N.C., June 14 – Westar Energy, Inc. released full terms on its $350 million offering of 10-year green first mortgage bonds, according to an FWP filed with the Securities and Exchange Commission.

The bonds priced with a 2.55% coupon at 99.859 to yield 2.566%, a spread of 95 basis points over Treasuries.

Proceeds will be used for renewable energy generation projects, including the Western Plains Wind Farm in Kansas. Since the Western Plains Wind Farm is in the preliminary stage of construction, a portion of the proceeds will be used to repay short-term debt or will be held as cash and cash equivalents, or both.

BNP Paribas Securities Corp., J.P. Morgan Securities LLC and MUFG are the bookrunners.

Westar Energy is a Topeka, Kan.-based electric utility.

Issuer:	Westar Energy, Inc.
Amount:	$350 million
Description:	First mortgage bonds
Maturity:	July 1, 2026
Bookrunners:	BNP Paribas Securities Corp., J.P. Morgan Securities LLC, MUFG
Co-managers:	Barclays, Loop Capital Markets LLC, BofA Merrill Lynch, U.S. Bancorp Investments, Inc., Wells Fargo Securities LLC
Coupon:	2.55%
Price:	99.859
Yield:	2.566%
Spread:	Treasuries plus 95 bps
Trade date:	June 13
Settlement date:	June 20
Make-whole call: Treasuries plus 15bps prior to April 1, 2026, then callable at par
Ratings:	Moody’s: A2
	S&P: A
Distribution:	SEC registered

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