By Andrea Heisinger
Omaha, Nov. 13 - Wisconsin Public Service Co. priced $125 million of 5.65% 10-year first-mortgage notes Tuesday to yield 140 basis points more than Treasuries, an informed source said.
The notes (Aa3/A) were priced at 99.898 to yield 5.664%.
There is a make-whole call option of Treasuries plus 20 bps.
Bookrunners were UBS Investment Bank and Wachovia Securities.
Proceeds will be used to add to the company's general fund for costs of construction, to acquire capital assets, to retire short-term debt or for other corporate utility purposes.
The subsidiary of Integrys Energy Group, Inc. is based in Green Bay, Wis.
| Issuer: | Wisconsin Public Service Co.
|
| Issue: | First-mortgage notes
|
| Amount: | $125 million
|
| Maturity: | Nov. 1, 2017
|
| Bookrunners: | UBS Investment Bank, Wachovia Securities
|
| Coupon: | 5.65%
|
| Price: | 99.898
|
| Yield: | 5.664%
|
| Spread: | Treasuries plus 140 bps
|
| Call: | Make-whole at Treasuries plus 20 bps
|
| Trade date: | Nov. 13
|
| Settlement date: | Nov. 20
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: A
|
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