By Andrea Heisinger
New York, Dec. 8 - Wisconsin Electric Power Co. priced $250 million of 4.25% 10-year debentures on Tuesday to yield Treasuries plus 90 basis points, according to an FWP filing with the Securities and Exchange Commission.
The notes (A1/A-/A+) priced at 99.678 to yield 4.29%. There is a make-whole call at Treasuries plus 20 bps.
Barclays Capital Inc. and Goldman Sachs & Co. were the bookrunners.
Co-managers were Loop Capital Markets LLC and Ramirez & Co.
Proceeds will be used to repay short-term debt and for working capital.
The subsidiary of Wisconsin Energy Corp. is based in Milwaukee.
| Issuer: | Wisconsin Electric Power Co.
|
| Issue: | Debentures
|
| Amount: | $250 million
|
| Maturity: | Dec. 15, 2019
|
| Bookrunners: | Barclays Capital Inc., Goldman Sachs & Co.
|
| Co-managers: | Loop Capital Markets LLC, Ramirez & Co.
|
| Coupon: | 4.25%
|
| Price: | 99.678
|
| Yield: | 4.29%
|
| Spread: | 90 bps over Treasuries
|
| Call: | Make-whole at Treasuries plus 20 bps
|
| Trade date: | Dec. 8
|
| Settlement date: | Dec. 15
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A-
|
| Fitch: A+
|
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