New Issue: Westar Energy sells $300 million 3.1% 10-year bonds with 78 bps spread

By Cristal Cody

Tupelo, Miss., Feb. 27 – Westar Energy, Inc. priced $300 million of 3.1% 10-year first mortgage bonds on Monday at 99.612 to yield 3.145%, according to an FWP filing with the Securities and Exchange Commission.

The notes (A2/A) priced at a spread of 78 basis points over Treasuries.

Barclays, BNY Mellon Capital Markets LLC and Wells Fargo Securities LLC were the bookrunners.

Proceeds will be used to repay debt incurred under Westar's commercial paper program and to finance its ongoing capital program.

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

Issuer:	Westar Energy, Inc.
Amount:	$300 million
Description:	First mortgage bonds
Maturity:	April 1, 2027
Bookrunners:	Barclays, BNY Mellon Capital Markets LLC and Wells Fargo Securities LLC
Co-managers:	Citigroup Global Markets Inc., Regions Securities LLC, Samuel A. Ramirez & Co., Inc., TD Securities (USA) LLC and U.S. Bancorp Investments, Inc.
Coupon:	3.1%
Price:	99.612
Yield:	3.145%
Spread:	Treasuries plus 78 bps
Call features:	Make-whole call before Jan. 1, 2027 at Treasuries plus 15 bps; thereafter at par
Trade date:	Feb. 27
Settlement date:	March 6
Ratings:	Moody’s: A2
	S&P: A
Distribution:	SEC registered

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