By Cristal Cody
Tupelo, Miss., June 17 – Wisconsin Power & Light Co. sold $350 million of 3% 10-year debentures on Monday at 99.708 to yield 3.034%, according to an FWP filing with the Securities and Exchange Commission.
The bonds (A2/A) priced with a spread of 95 basis points over Treasuries.
Barclays, Mizuho Securities USA Inc., MUFG and Wells Fargo Securities LLC were the bookrunners.
Proceeds will be used to reduce commercial paper.
The Madison, Wis.-based public utility distributes electricity and natural gas to central and southern Wisconsin.
| Issuer: | Wisconsin Power & Light Co.
|
| Amount: | $350 million
|
| Description: | Debentures
|
| Maturity: | July 1, 2029
|
| Bookrunners: | Barclays, Mizuho Securities USA Inc., MUFG and Wells Fargo Securities LLC
|
| Co-managers: | KeyBanc Capital Markets Inc., U.S. Bancorp Investments Inc. and Williams Capital Group LP
|
| Coupon: | 3%
|
| Price: | 99.708
|
| Yield: | 3.034%
|
| Spread: | Treasuries plus 95 bps
|
| Call features: | Make-whole call before April 1, 2029 at Treasuries plus 15 bps; thereafter at par
|
| Trade date: | June 17
|
| Settlement date: | June 24
|
| Ratings: | Moody’s: A2
|
| S&P: A
|
| Distribution: | SEC registered
|
| Price talk: | Treasuries plus 80 bps area
|
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