By Andrea Heisinger
New York, July 7 - Wisconsin Power & Light Co. priced $250 million 5% 10-year debentures Tuesday to yield Treasuries plus 160 basis points, according to a market source and an FWP filing with the Securities and Exchange Commission.
The notes (A2/A-/) priced at 99.385 to yield 5.079%. They have a make-whole call at Treasuries plus 25 bps.
Bookrunners were Banc of America Securities LLC and Wells Fargo Securities. Passive bookrunners were Bank of New York Mellon Capital Markets and UBS Investment Bank, with co-managers Commerzbank Corporate & Markets and Mizuho Securities USA Inc.
Proceeds will be used to repay short-term debt, to invest in short-term assets and to fund capital expenditures.
The electric and natural gas company is based in Madison, Wis.
| Issuer: | Wisconsin Power & Light Co.
|
| Issue: | Debentures
|
| Amount: | $250 million
|
| Maturity: | July 15, 2019
|
| Bookrunners: | Banc of America Securities LLC, Wells Fargo Securities (active), Bank of New York Mellon Capital Markets, UBS Investment Bank (passive)
|
| Co-managers: | Commerzbank Corporate & Markets, Mizuho Securities USA Inc.
|
| Coupon: | 5%
|
| Price: | 99.385
|
| Yield: | 5.079%
|
| Spread: | Treasuries plus 160 bps
|
| Call: | Make-whole at Treasuries plus 25 bps
|
| Trade date: | July 7
|
| Settlement date: | July 10
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A-
|
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