By Andrea Heisinger
New York, Sept. 25 - Wisconsin Electric Power Co. priced $300 million of 6% debentures due 2014 Thursday to yield Treasuries plus 300 basis points, according to an FWP filing with the Securities and Exchange Commission.
The notes (A1/A-/A+) priced at 99.806 to yield 6.042%. They have a make-whole redemption option of Treasuries plus 45 bps.
Bookrunners were Citigroup Global Markets Inc. and Wachovia Capital Markets.
Co-managers were SunTrust Robinson Humphrey and Wells Fargo Securities.
Proceeds will be used to repay short-term debt, for working capital and for other general corporate purposes, including payment of dividends.
The subsidiary of Wisconsin Energy Corp. is based in Milwaukee.
| Issuer: | Wisconsin Electric Power Co.
|
| Issue: | Debentures
|
| Amount: | $300 million
|
| Maturity: | April 1, 2014
|
| Bookrunners: | Citigroup Global Markets Inc., Wachovia Capital Markets
|
| Co-managers: | SunTrust Robinson Humphrey, Wells Fargo Securities
|
| Coupon: | 6%
|
| Price: | 99.806
|
| Yield: | 6.042%
|
| Spread: | Treasuries plus 300 bps
|
| Call: | Make-whole at Treasuries plus 45 bps
|
| Trade date: | Sept. 25
|
| Settlement date: | Oct. 1
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A-
|
| Fitch: A+
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
