Interstate Power and Light Company Prices Debt Offering
Alliant Energy's subsidiary, Interstate Power and Light Company (LNT), announced a public offering of $400 million in 2.300% senior debentures due June 1, 2030. The funds will be utilized to retire $200 million in 3.65% senior debentures maturing on September 1, 2020, and for general corporate purposes. The offering is scheduled for closing on June 2, 2020, subject to closing conditions. The offering is managed by Goldman Sachs & Co. LLC and others and will be made via a prospectus supplement filed with the SEC.
- Raising $400 million through a public offering enhances liquidity for the company.
- Refinancing debt by retiring higher-interest debentures improves overall interest expense.
- None.
MADISON, Wis., May 26, 2020 (GLOBE NEWSWIRE) -- Interstate Power and Light Company (“IPL”), a wholly owned subsidiary of Alliant Energy Corporation (NASDAQ: LNT), announced the pricing of its public offering of
The offering was marketed through a group of underwriters consisting of Goldman Sachs & Co. LLC, Mizuho Securities USA LLC and MUFG Securities Americas Inc. as joint book-running managers, and Comerica Securities, Inc., Samuel A. Ramirez & Company, Inc. and TD Securities (USA) LLC as co-managers.
The offering is being made only by means of a prospectus supplement and accompanying prospectus which are part of a shelf registration statement IPL filed with the Securities and Exchange Commission (the “Commission”). Copies may be obtained from Goldman Sachs & Co. LLC by calling toll free at 1-866-471-2526, from Mizuho Securities USA LLC by calling toll free at 1-866-271-7403, and from MUFG Securities Americas Inc. by calling toll free at 1-877-649-6848. Electronic copies of these documents will be available from the Commission’s website at www.sec.gov.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Alliant Energy
Alliant Energy Corporation's Iowa utility subsidiary, Interstate Power and Light Company (IPL), utilizes the trade name of Alliant Energy (NASDAQ:LNT). The Iowa utility is based in Cedar Rapids, Iowa.
Forward-Looking Statements
This press release includes forward-looking statements. These statements involve inherent risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including risks related to the proposed offering, the anticipated use of proceeds from the sale of the senior debentures and other risks outlined in IPL’s public filings with the Commission, including IPL’s most recent annual report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. All information provided in this news release speaks as of the date hereof. Except as otherwise required by law, IPL undertakes no obligation to update or revise its forward-looking statements.
Media Contact: Scott Reigstad (608) 458-3145
Investor Relations: Susan Gille (608) 458-3956
FAQ
What is the amount of Alliant Energy's debenture offering?
What will the proceeds from the LNT debenture offering be used for?
When is the closing date for the LNT senior debenture offering?
Who are the underwriters for the LNT debenture offering?
What is the interest rate on the new senior debentures for LNT?
