New Issue: Wisconsin Electric sells $250 million 3.1% debentures due 2025 at 85 bps spread

By Aleesia Forni

Virginia Beach, May 14 – Wisconsin Electric Power Co. sold $250 million of 3.1% 10-year debentures (A1/A-/A+) on Thursday to yield Treasuries plus 85 basis points, according to an FWP filing with the Securities and Exchange Commission.

Pricing was at 99.897 to yield 3.112%.

Morgan Stanley & Co. LLC, MUFG, RBC Capital Markets LLC and BMO Capital Markets are the joint bookrunners.

Proceeds will be used to repay short-term debt and for working capital and other corporate purposes.

Milwaukee-based Wisconsin Electric Power is a subsidiary of the Wisconsin Energy Corp.

Issuer:	Wisconsin Electric Power Co.
Amount:	$250 million
Description:	Debentures
Maturity:	June 1, 2025
Bookrunners:	Morgan Stanley & Co. LLC, MUFG, RBC Capital Markets LLC, BMO Capital Markets
Co-managers:	Blaylock Beal Van LLC, Williams Capital Group, LP
Coupon:	3.1%
Price:	99.897
Yield:	3.112%
Spread:	Treasuries plus 85 bps
Make-whole call:	15 bps prior to March 1, 2025, then callable at par
Trade date:	May 14
Settlement date:	May 20
Ratings:	Moody’s: A1
	Standard & Poor’s: A-
	Fitch: A+
Distribution:	SEC registered

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