By William Gullotti
Buffalo, N.Y., April 4 – WEC Energy Group, Inc. priced an additional $350 million 4.75% senior notes due Jan. 9, 2026 (Baa1/BBB+/BBB+) at 100 basis points over Treasuries, according to an FWP filing with the Securities and Exchange Commission.
The additional notes were priced at 100.283 to yield 4.635% and will have the same terms and Cusip as the original $650 million issued on Jan. 11.
The notes feature a make-whole call at Treasuries plus 15 bps until Dec. 9, 2025, followed by a par call.
Barclays and TD Securities (USA) LLC are the joint bookrunners.
Proceeds will be used to repay short-term debt and for general corporate purposes.
WEC Energy is a Milwaukee-based diversified holding company for electric and gas businesses in Wisconsin, Illinois, Michigan and Minnesota.
| Issuer: | WEC Energy Group, Inc.
|
| Amount: | $350 million
|
| Issue: | Senior notes
|
| Maturity: | Jan. 9, 2026
|
| Bookrunners: | Barclays and TD Securities (USA) LLC
|
| Co-manager: | Siebert Williams Shank & Co., LLC
|
| Trustee: | Bank of New York Mellon Trust Co., NA
|
| Counsel to issuer: | Troutman Pepper Hamilton Sanders LLP and in-house counsel
|
| Counsel to underwriters: | Hunton Andrews Kurth LLP
|
| Coupon: | 4.75%
|
| Price: | 100.283
|
| Yield: | 4.635%
|
| Spread: | Treasuries plus 100 bps
|
| Call features: | Make-whole call at Treasuries plus 15 bps at any time prior to Dec. 9, 2025; par call after that
|
| Trade date: | April 4
|
| Settlement date: | April 6
|
| Expected ratings: | Moody’s: Baa1
|
| S&P: BBB+
|
| Fitch: BBB+
|
| Cusip: | 92939UAK2
|
| Total issue: | $1 billion, including $650 million issued Jan. 11
|
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