By Andrea Heisinger
New York, Oct. 1 - Wisconsin Power & Light Co. priced $250 million7.6% 30-year debentures Wednesday to yield Treasuries plus 349.9 basis points, according to an FWP filing with the Securities and Exchange Commission.
The debentures (A2/A/) priced at 98.264 to yield 7.75%. They have a make-whole redemption option of Treasuries plus 50 bps.
Bookrunners were Barclays Capital Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities Inc.
Co-managers were Bank of New York Capital Markets, Lazard Capital Markets and RBS Greenwich Capital.
Proceeds will be used to repay short-term debt and to invest in short-term assets, then to fund capital expenditures, including new generating facilities, environmental projects, advanced metering infrastructure, and other utility capital projects. The remainder will be used for general corporate purposes.
The utility and subsidiary of Alliant Energy is based in Madison, Wis.
| Issuer: | Wisconsin Power & Light Co.
|
| Issue: | Debentures
|
| Amount: | $250 million
|
| Maturity: | Oct. 1, 2038
|
| Bookrunners: | Barclays Capital Inc., Citigroup Global Markets Inc., J.P. Morgan Securities Inc.
|
| Co-managers: | Bank of New York Capital Markets, Lazard Capital Markets, RBS Greenwich Capital
|
| Coupon: | 7.6%
|
| Price: | 98.264
|
| Yield: | 7.75%
|
| Spread: | Treasuries plus 349.9 bps
|
| Call: | Make-whole at Treasuries plus 50 bps
|
| Trade date: | Oct. 1
|
| Settlement date: | Oct. 6
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
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