By Aleesia Forni
New York, Dec. 1 – Wisconsin Public Service Corp. sold $250 million of 1.65% three-year senior notes (A1/A-/A+) at Treasuries plus 50 basis points on Tuesday, according to an informed source and an FWP filed with the Securities and Exchange Commission.
The notes sold at 99.907 to yield 1.682%.
Pricing came at the tight side of the Treasuries plus 55 bps area guidance, which firmed from initial talk set in the 70 bps to 75 bps area.
MUFG, Wells Fargo Securities LLC, Mizuho Securities USA Inc. and Scotia Capital (USA) Inc. are the joint bookrunners.
Proceeds will be used to repay short-term debt and for working capital and other corporate purposes.
The subsidiary of Integrys Energy Group, Inc. is based in Green Bay, Wis.
| Issuer: | Wisconsin Public Service Corp.
|
| Amount: | $250 million
|
| Description: | Senior notes
|
| Maturity: | Dec. 4, 2018
|
| Bookrunners: | MUFG, Wells Fargo Securities LLC, Mizuho Securities USA Inc., Scotia Capital (USA) Inc.
|
| Co-managers: | Samuel A. Ramirez & Co. Inc., Drexel Hamilton LLC
|
| Coupon: | 1.65%
|
| Price: | 99.907
|
| Yield: | 1.682%
|
| Spread: | Treasuries plus 50 bps
|
| Make-whole call: | Treasuries plus 10 bps
|
| Trade date: | Dec. 1
|
| Settlement date: | Dec. 4
|
| Ratings: | Moody’s: A1
|
| Standard & Poor’s: A-
|
| Fitch: A+
|
| Distribution: | SEC registered
|
| Price guidance: | Treasuries plus 55 bps area, tightened from Treasuries plus 70 bps to 75 bps
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
