By Cristal Cody
Tupelo, Miss., May 12 - Wisconsin Electric Power Co. sold $250 million of 4.25% 30-year debentures at 99.376 to yield 4.287%, according to a FWP filing with the Securities and Exchange Commission on Monday.
The debentures due June 1, 2044 (A1/A-/A+) priced with a spread of Treasuries plus 80 basis points.
BofA Merrill Lynch, BNP Paribas Securities Corp., Goldman, Sachs & Co. and RBC Capital Markets LLC were the bookrunners.
Proceeds will be used to repay short-term debt and for working capital and other corporate purposes.
Milwaukee, Wis.-based Wisconsin Electric Power is a subsidiary of the Wisconsin Energy Corp.
| Issuer: | Wisconsin Electric Power Co.
|
| Amount: | $250 million
|
| Maturity: | June 1, 2044
|
| Description: | Debentures
|
| Bookrunners: | BofA Merrill Lynch, BNP Paribas Securities Corp., Goldman, Sachs & Co. and RBC Capital Markets LLC
|
| Co-manager: | Williams Capital Group, LP
|
| Coupon: | 4.25%
|
| Price: | 99.376
|
| Yield: | 4.287%
|
| Spread: | Treasuries plus 80 bps
|
| Trade date: | May 12
|
| Settlement date: | May 15
|
| Make-whole call: | Treasuries plus 15 bps prior to Dec. 1, 2043; on or after Dec. 1, 2043 at par
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A-
|
| Fitch: A+
|
| Distribution: | SEC-registered
|
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