Wisconsin Power and Light Company Prices Public Offering of Green Bonds

Rhea-AI Summary

Alliant Energy Corporation (NASDAQ: LNT) announced a public offering of $300 million in 4.950% debentures due on April 1, 2033. The net proceeds will fund solar electric generating units. The offering is expected to close on March 30, 2023, pending customary conditions. This offering will be executed through underwriters including MUFG Securities, KeyBanc Capital Markets, TD Securities, and Wells Fargo Securities. Copies of the associated prospectus can be obtained from the underwriters or accessed via the Securities and Exchange Commission website.

Positive

• The offering of $300 million in debentures will finance solar electric generating units, contributing to sustainability efforts.

Negative

• Issuing new debentures may cause shareholder dilution and potential negative market sentiment.

$300 million in green bonds will be due in 2033

MADISON, Wis.--(BUSINESS WIRE)-- Wisconsin Power and Light Company (“WPL”), a wholly owned subsidiary of Alliant Energy Corporation (NASDAQ: LNT), announced the pricing of its public offering of $300 million aggregate principal amount of 4.950% debentures. The debentures will be due on April 1, 2033. An amount equal to or in excess of the net proceeds from this offering will be allocated or disbursed for the development and acquisition of solar electric generating units. The closing of the offering is expected to occur on March 30, 2023, subject to the satisfaction of customary closing conditions.

The offering was marketed through a group of underwriters consisting of MUFG Securities Americas Inc., KeyBanc Capital Markets Inc., TD Securities (USA) LLC and Wells Fargo Securities, LLC, as joint book-running managers, and Comerica Securities, Inc., Mischler Financial Group, Inc. and U.S. Bancorp Investments, Inc., 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 WPL filed with the Securities and Exchange Commission (the “Commission”). Copies may be obtained from MUFG Securities Americas Inc. by calling toll free at 1-877-649-6848, KeyBanc Capital Markets Inc. by calling toll-free at 1-866-227-6479, TD Securities (USA) LLC by calling toll-free at 1-855-495-9846, and Wells Fargo Securities, LLC by calling toll free at 1-800-645-3751. 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 Wisconsin utility subsidiary, Wisconsin Power and Light Company (WPL), utilizes the trade name of Alliant Energy (NASDAQ: LNT). The Wisconsin utility is based in Madison, Wisconsin.

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 debentures and other risks outlined in WPL’s public filings with the Commission, including WPL’s most recent annual report on Form 10-K. All information provided in this news release speaks as of the date hereof. Except as otherwise required by law, WPL undertakes no obligation to update or revise its forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230327005711/en/

Media Hotline: (608) 458-4040

Investor Relations: Susan Gille (608) 458-3956

Source: Alliant Energy Corporation

FAQ

What is the purpose of the $300 million debentures offering by LNT?

The $300 million debentures offering by LNT aims to fund the development and acquisition of solar electric generating units.

When will the LNT debentures mature?

The LNT debentures will mature on April 1, 2033.

What are the terms of the LNT debentures?

The LNT debentures are priced at 4.950% and will be due in 2033.

When is the expected closing date for the LNT offering?

The expected closing date for the LNT offering is March 30, 2023, pending customary closing conditions.

How will the issuance of new debentures affect LNT shareholders?

The issuance of new debentures may lead to shareholder dilution and could impact market sentiment negatively.