Wisconsin Electric offers $300 million seven-year debentures talked at 75 bps area over Treasuries

By Devika Patel and Cristal Cody

Knoxville, Tenn., June 8 – Wisconsin Electric Power Co. plans to sell $300 million of seven-year debentures, according to a market source.

Price talk is in the Treasuries plus 75 basis points area.

The debentures will have a make-whole call and then a par call.

BofA Securities Inc., MUFG, PNC Capital Markets LLC and RBC Capital Markets LLC are the bookrunners. Comerica Securities Inc. and Siebert Williams Shank & Co. LLC are the co-managers.

Proceeds will be used to redeem the company’s $300 million of 2.95% debentures due Sept. 15, 2021.

Wisconsin Electric Power is a Milwaukee-based subsidiary of WEC Energy Group, Inc.

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