By Andrea Heisinger
New York, Nov. 26 - Wisconsin Public Service Corp. sold $300 million of 3.671% 30-year first mortgage bonds (Aa3/A/) on Monday to yield 87.5 basis points over Treasuries, according to an FWP filing with the Securities and Exchange Commission.
Pricing was at par to yield 3.671%. There is a make-whole call at 15 bps over Treasuries.
Bookrunners were Bank of America Merrill Lynch, J.P. Morgan Securities LLC, Scotia Capital USA Inc. and Wells Fargo Securities LLC.
Proceeds will be used to refund outstanding long-term debt, including $150 million of 4.875% senior notes due Dec. 1; to pay the costs of construction or the acquisition of utility capital assets; to retire short-term debt incurred for construction or acquisition of utility capital assets and other corporate utility purposes; or for general corporate purposes.
The natural gas and utility company is based in Green Bay, Wis.
| Issuer: | Wisconsin Public Service Corp.
|
| Issue: | First mortgage bonds
|
| Amount: | $300 million
|
| Maturity: | Dec. 1, 2042
|
| Bookrunners: | Bank of America Merrill Lynch, J.P. Morgan Securities LLC, Scotia Capital USA Inc., Wells Fargo Securities LLC
|
| Co-managers: | Fifth Third Securities Inc., Mizuho Securities (USA) Inc., PNC Capital Markets LLC, Wedbush Securities Inc.
|
| Coupon: | 3.671%
|
| Price: | Par
|
| Yield: | 3.671%
|
| Spread: | Treasuries plus 87.5 bps
|
| Call: | Make-whole at Treasuries plus 15 bps
|
| Trade date: | Nov. 26
|
| Settlement date: | Dec. 3
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: A
|
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