Ameren Missouri Announces Pricing of First Mortgage Bonds due 2053

Rhea-AI Summary

On February 27, 2023, Union Electric Company, operating as Ameren Missouri, announced the pricing of a public offering of $500 million in 5.45% first mortgage bonds due 2053. The bonds were priced at 99.794% of their principal amount, with a closing date expected on March 13, 2023, subject to customary closing conditions. Proceeds from the offering will be utilized for capital expenditures and/or refinancing short-term debt. The offering is managed by multiple financial institutions, and details can be accessed via the Securities and Exchange Commission website.

Positive

• Proceeds from the bond offering will support capital expenditures and refinancing short-term debt.

Negative

• The bond offering increases the company's debt obligations, which could affect financial flexibility in the future.

ST. LOUIS, Feb. 27, 2023 /PRNewswire/ -- Union Electric Company, doing business as Ameren Missouri, a subsidiary of Ameren Corporation (NYSE: AEE), announced today the pricing of a public offering of $500 million aggregate principal amount of 5.45% first mortgage bonds due 2053 at 99.794% of their principal amount. The transaction is expected to close on March 13, 2023, subject to the satisfaction of customary closing conditions.

Ameren Missouri intends to use the net proceeds of the offering to fund capital expenditures and/or refinance its short-term debt.

BofA Securities, Inc., KeyBanc Capital Markets Inc., RBC Capital Markets, LLC, TD Securities (USA) LLC, U.S. Bancorp Investments, Inc. and Fifth Third Securities, Inc. are acting as joint book-running managers for the offering.

The offering is being made only by means of a prospectus and related prospectus supplement. A prospectus supplement related to the offering will be filed with the Securities and Exchange Commission. Copies of the prospectus supplement and accompanying prospectus, when available, for the offering may be obtained on the Securities and Exchange Commission's website at www.sec.gov, or by contacting BofA Securities, Inc., 200 North College Street, 3rd Floor, NC1-004-03-43, Charlotte, NC 28255, Attention: Prospectus Department, email: dg.prospectus_requests@bofa.com, phone: 1-800-294-1322.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the first mortgage bonds and shall not constitute an offer, solicitation or sale in any jurisdiction in which, or to any person to whom, such an offer, solicitation or sale is unlawful.

About Ameren Missouri

Ameren Missouri has been providing electric and gas service for more than 100 years. Ameren Missouri's mission is to power the quality of life for its 1.2 million electric and 135,000 natural gas customers in central and eastern Missouri. The company's service area covers 64 counties and more than 500 communities, including the greater St. Louis area. For more information, visit Ameren.com/Missouri or follow us at @AmerenMissouri or Facebook.com/AmerenMissouri.

View original content:https://www.prnewswire.com/news-releases/ameren-missouri-announces-pricing-of-first-mortgage-bonds-due-2053-301757211.html

SOURCE Ameren Missouri

FAQ

What is the purpose of Ameren Missouri's bond offering on February 27, 2023?

The bond offering aims to fund capital expenditures and refinance short-term debt.

When is the expected closing date for Ameren Missouri's bond offering?

The expected closing date is March 13, 2023.

What is the interest rate and duration of the bonds issued by Ameren Missouri?

The bonds carry a 5.45% interest rate and are due in 2053.

How much is Ameren Missouri raising through the bond offering?

Ameren Missouri is raising $500 million through the bond offering.

Who are the joint book-running managers for Ameren Missouri's bond offering?

The offering is managed by BofA Securities, KeyBanc Capital Markets, RBC Capital Markets, TD Securities, U.S. Bancorp Investments, and Fifth Third Securities.