By Taylor Fox and Cristal Cody
New York, March 16 – WEC Energy Group, Inc. priced $600 million of 0.8% three-year senior notes (Baa1/BBB+/BBB+) on Tuesday at 48 basis points over Treasuries, according to an FWP filing with the Securities and Exchange Commission.
The notes priced at 99.959 to yield 0.814%.
Price talk was in the Treasuries plus 70 bps area, according to a market source.
Barclays, J.P. Morgan Securities LLC, KeyBanc Capital Markets Inc., TD Securities (USA) LLC, U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC were the bookrunners.
WEC Energy is a Milwaukee-based electricity and natural gas service provider.
| Issuer: | WEC Energy Group, Inc.
|
| Amount: | $600 million
|
| Description: | Senior notes
|
| Maturity: | March 15, 2024
|
| Bookrunners: | Barclays, J.P. Morgan Securities LLC, KeyBanc Capital Markets Inc., TD Securities (USA) LLC, U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC
|
| Co-manager: | Samuel A Ramirez & Co., Inc.
|
| Coupon: | 0.8%
|
| Price: | 99.959
|
| Yield: | 0.814%
|
| Spread: | Treasuries plus 48 bps
|
| Call features: | Make-whole call at price equal to greater of par or Treasuries plus 10 bps before Feb. 15, 2024; thereafter at par
|
| Trade date: | March 16
|
| Settlement date: | March 19
|
| Ratings: | Moody’s: Baa1
|
| S&P: BBB+
|
| Fitch: BBB+
|
| Distribution: | SEC registered
|
| Talk: | Treasuries plus 70 bps area
|
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