Wisconsin Public Service preps fixed-rate senior notes offer, talk in 100 bps area

By Cristal Cody

Chicago, Nov. 7 – Wisconsin Public Service Corp. is preparing to sell $300 million of fixed-rate senior notes, according to a 424B5 filing with the Securities and Exchange Commission and additional details provided by a source.

The notes will be due Nov. 10, 2025 and are being talked in the Treasuries plus 100 basis points area, the source said.

The notes will have a make-whole call option and then a par call option.

KeyBanc Capital Markets Inc., Morgan Stanley & Co. LLC, PNC Capital Markets LLC and U.S. Bancorp Investments, Inc. have been hired as joint bookrunners.

Comerica Securities, Inc. and Penserra Securities LLC have been hired as co-managers.

U.S. Bank Trust Co., NA will be the trustee.

The company is using both in-house counsel and Troutman Pepper Hamilton Sanders LLP. The underwriters are relying on Hunton Andrews Kurth LLP for legal advice.

Proceeds will be used to repay short-term debt and for other general corporate purposes. As of Oct. 31, the company has outstanding short-term debt of $317.5 million.

The issuer in an indirect subsidiary of WEC Energy Group, Inc. and is based in Green Bay, Wis.

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