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Prospect News home > News index > List of issuers S > Headlines for Spire Inc. > News item
Published on 6/8/2020 in the Prospect News Liability Management Daily and Prospect News Private Placement Daily.

Spire announces any-and-all tender offers for first mortgage bonds

By Sarah Lizee

Olympia, Wash., June 8 – Spire Inc. subsidiary Spire Missouri Inc. launched cash tender offers to purchase any and all of its first mortgage bonds in five series, according to a press release.

The offers will expire at 5 p.m. ET on June 12, 2020.

The following bonds are included in the offers:

• $25 million of 7% bonds due June 1, 2029 (Cusip: 505588AY9) with pricing to be set using the 0.625% Treasury due May 15, 2030 plus 115 basis points;

• $30 million of 7.9% bonds due Sept. 15, 2030 (Cusip: 505588BA0) with pricing to be set using the 0.625% Treasury due May 15, 2030 plus 120 bps;

• $100 million of 6% bonds due May 1, 2034 (Cusip: 505588BE2) with pricing to be set using the 0.625% Treasury due May 15, 2030 plus 140 bps;

• $55 million of 6.15% bonds due June 1, 2036 (Cusip: 505588BF9) with pricing to be set using the 2% Treasury due Feb. 15, 2050 plus 135 bps; and

• $100 million of 4.625% bonds due Aug. 15, 2043 (Cusip: 505588BK8) with pricing to be set using the 2% Treasury due Feb. 15, 2050 plus 135 bps.

Pricing will be determined at 2 p.m. ET on June 12.

Accrued interest will be paid to holders in cash.

Settlement is expected for June 16.

Bonds purchased under the offers are expected to be cancelled.

Tendered bonds may be withdrawn at any time at or prior to the expiration time.

The offers are not conditioned on any minimum amount of bonds being tendered.

The information agent and tender agent is Global Bondholder Services Corp. (866 470-3900, 212 430-3774 for banks and brokers only) and the dealer manager is RBC Capital Markets, LLC (212 618-7843 collect, 877 381-2099 toll-free, liability.management@rbccm.com).

Spire is natural gas distribution company based in St. Louis.


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