By Cristal Cody
Tupelo, Miss., Oct. 1 – Wisconsin Electric Power Co. sold $300 million of 4.3% 30-year debentures at 99.464 to yield 4.332% on Monday, according to an FWP filing with the Securities and Exchange Commission.
The debentures (A2/A-/A+) priced with a spread of 110 basis points over Treasuries.
BNP Paribas Securities Corp., PNC Capital Markets LLC, Scotia Capital (USA) Inc. and TD Securities (USA) LLC were the bookrunners.
Proceeds will be used to repay short-term debt, for working capital and for other corporate purposes.
Wisconsin Electric Power is a Milwaukee-based subsidiary of WEC Energy Group, Inc.
| Issuer: | Wisconsin Electric Power Co.
|
| Amount: | $300 million
|
| Description: | Debentures
|
| Maturity: | Oct. 15, 2048
|
| Bookrunners: | BNP Paribas Securities Corp., PNC Capital Markets LLC, Scotia Capital (USA) Inc. and TD Securities (USA) LLC
|
| Co-managers: | Penserra Securities LLC and Williams Capital Group, LP
|
| Coupon: | 4.3%
|
| Price: | 99.464
|
| Yield: | 4.332%
|
| Spread: | Treasuries plus 110 bps
|
| Call features: | Make-whole call at greater of par or Treasuries plus 20 bps before April 15, 2048; thereafter at par
|
| Trade date: | Oct. 1
|
| Settlement date: | Oct. 4
|
| Ratings: | Moody’s: A2
|
| S&P: A-
|
| Fitch: A+
|
| Distribution: | SEC registered
|
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