By Cristal Cody
Tupelo, Miss., Aug. 7 – Wisconsin Public Service Corp. priced $300 million of 3.3% 30-year senior notes on Wednesday at a spread of 112 basis points over Treasuries, according to an FWP filing with the Securities and Exchange Commission.
The notes (A2/A-/A+) priced at 99.885 to yield 3.306%.
BofA Securities, Inc., MUFG, PNC Capital Markets LLC and Wells Fargo Securities LLC were the bookrunners.
Proceeds will be used to repay short-term debt and for working capital and other corporate purposes.
The natural gas and electric utility is a Green Bay, Wis.-based subsidiary of WEC Energy Group, Inc.
Issuer: | Wisconsin Public Service Corp.
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Amount: | $300 million
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Description: | Senior notes
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Maturity: | Sept. 1, 2049
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Bookrunners: | BofA Securities, Inc., MUFG, PNC Capital Markets LLC and Wells Fargo Securities LLC
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Co-managers: | Blaylock Robert Van, LLC, Evercore Group LLC and Williams Capital Group LP
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Coupon: | 3.3%
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Price: | 99.885
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Yield: | 3.306%
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Spread: | Treasuries plus 112 bps
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Call feature: | Make-whole call before March 1, 2049 at price equal to greater of par or Treasuries plus 20 bps
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Trade date: | Aug. 7
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Settlement date: | Aug. 14
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Ratings: | Moody’s: A2
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| S&P: A-
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| Fitch: A+
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Distribution: | SEC registered
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