By Angela McDaniels
Tacoma, Wash., Sept. 12 – Spire Inc. issued $35 million of tranche A 2.52% five-year notes and $130 million of tranche B 3.13% 10-year notes, according to an 8-K filing with the Securities and Exchange Commission.
The $165 million private placement of series 2016 senior notes settled on Friday.
The company announced plans for the placement on June 20 and said it would settle by the end of the year. It expected the coupon to be 2.49% to 2.61% for the five-year notes and 3.11% to 3.19% for the 10-year notes, depending on the settlement date.
Proceeds were used to fund a portion of the acquisition of EnergySouth, Inc., the parent company of Mobile Gas Service Corp. and Willmut Gas & Oil Co., from Sempra U.S. Gas & Power, LLC. The company also used cash on hand, short-term debt and proceeds from a stock sale to fund the acquisition, which closed on Monday.
Spire is a natural gas distribution company based in St. Louis.
| Issuer: | Spire Inc.
|
| Issue: | Series 2016 senior notes
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| Amount: | $165 million
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| Settlement date: | Sept. 9
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| Distribution: | Private placement
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|
|
| Tranche A
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| Amount: | $35 million
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| Maturity: | Sept. 1, 2021
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| Coupon: | 2.52%
|
|
|
| Tranche B
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| Amount: | $130 million
|
| Maturity: | Sept, 1, 2026
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| Coupon: | 3.13%
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