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Alliant Energy (LNT) secures $400M term loan with 2027 maturity and covenants

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Alliant Energy Corporation entered into a new term loan credit agreement providing a $400 million term loan facility, with an additional incremental term loan capacity of up to $100 million in lender discretion. The company can use the borrowings for general corporate purposes, including working capital, capital spending, and refinancing existing debt.

The credit facility matures on March 1, 2027 and includes a covenant requiring a consolidated debt-to-capital ratio not greater than 65%. It also limits liens on company and subsidiary assets, subject to defined exceptions, and includes customary events of default and a cross-default trigger tied to at least $100 million of other debt.

Positive

  • None.

Negative

  • None.

Insights

Alliant adds a dated $400M term loan with standard covenants and optional $100M increment.

The agreement provides $400 million in committed term debt plus an uncommitted incremental facility of up to $100 million. Proceeds can support working capital, capital expenditures, and refinancing, giving the company another funding source with a defined maturity on March 1, 2027.

Key protections include a maximum consolidated debt-to-capital ratio of 65%, limitations on liens with quantitative and qualitative exceptions, and a cross-default threshold at $100 million of other non‑recourse debt. Actual balance-sheet impact depends on how much of the committed and incremental capacity the company ultimately draws.

Item 1.01 Entry into a Material Definitive Agreement Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial
The company incurred a new significant debt or off-balance-sheet obligation.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
0000352541false00003525412026-03-022026-03-02

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) March 2, 2026


Name of Registrant, State of Incorporation, Address of Principal Executive Offices, Telephone Number, Commission File Number, IRS Employer Identification Number

ALLIANT ENERGY CORPORATION
(a Wisconsin Corporation)
4902 N. Biltmore Lane
Madison, Wisconsin 53718
Telephone (608) 458-3311
Commission File Number - 1-9894
IRS Employer Identification Number - 39-1380265

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Alliant Energy Corporation, Common Stock, $0.01 Par Value, Trading Symbol LNT, Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging Growth Company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.




Item 1.01    Entry into a Material Definitive Agreement.

On March 2, 2026, Alliant Energy Corporation (the “Company”) entered into a term loan credit agreement (the “Credit Agreement”) among the Company, U.S. Bank National Association, as Administrative Agent, and the several lenders party thereto. The Credit Agreement provides for a $400 million term loan facility. The Credit Agreement also provides for an incremental term loan facility of up to $100 million. No lender has any obligation to provide incremental term loans.
The Company may use borrowings under the credit facility for general corporate purposes including working capital, interim funding of capital expenditures and refinancing of other indebtedness. The credit facility matures on March 1, 2027.
The Credit Agreement contains various covenants, including a requirement that the Company maintains a debt-to-capital ratio of not greater than 65% on a consolidated basis. The debt component of the debt-to-capital ratio includes, among others, long- and short-term debt (excluding non-recourse debt of any subsidiary of the Company and hybrid securities to the extent the total book value of such hybrid securities does not exceed 15% of consolidated capital of the Company and operating lease obligations). The equity component of the debt-to-capital ratio excludes accumulated other comprehensive income (loss).
The Credit Agreement contains a covenant that prohibits placing liens on any of the property of the Company or its subsidiaries with certain exceptions. Exceptions include among others, liens to secure obligations of up to 10% of the consolidated tangible assets of the Company and its subsidiaries (valued at book value), liens imposed by government entities, materialmen’s and similar liens, judgment liens, liens to secure additional non-recourse debt not to exceed $100 million outstanding at any one time, and purchase money liens.
The Credit Agreement contains customary events of default, including a cross-default provision whereby the Company would be in default under the Credit Agreement if the Company or certain of its subsidiaries defaults on debt (other than nonrecourse debt) totaling $100 million or more. If an event of default under the Credit Agreement occurs and is continuing, then the lenders may declare any outstanding obligations of the Company under the Credit Agreement immediately due and payable. In addition, if any order for relief is entered under bankruptcy laws with respect to the Company then any outstanding obligations of the Company under the Credit Agreement would be immediately due and payable.
The description of the Credit Agreement set forth above is not complete and is qualified in its entirety by reference to the Credit Agreement filed herewith as Exhibit 10.1, which is incorporated by reference herein.

Item 2.03    Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information included or incorporated by reference in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03 of this Current Report on Form 8-K.

Item 9.01    Financial Statements and Exhibits.

(d)    Exhibits

Exhibit No.Description
10.1
Credit Agreement, dated as of March 2, 2026, among Alliant Energy Corporation, U.S. Bank National Association and the lender parties set forth therein.
104Cover Page Interactive Data File (embedded within the Inline XBRL document)



SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ALLIANT ENERGY CORPORATION
Date: March 2, 2026
By: /s/ Robert J. Durian
Robert J. Durian
Executive Vice President and Chief Financial Officer


FAQ

What new credit facility did Alliant Energy (LNT) enter into?

Alliant Energy entered into a term loan credit agreement providing a $400 million term loan facility. The agreement also permits, but does not require, up to $100 million in incremental term loans from participating lenders.

How can Alliant Energy (LNT) use the $400 million term loan borrowings?

The company may use borrowings for general corporate purposes, including working capital, interim funding of capital expenditures, and refinancing of other indebtedness. This flexibility allows management to allocate the funds across operational and financing needs as they arise.

When does Alliant Energy’s new $400 million term loan facility mature?

The term loan credit facility matures on March 1, 2027. At that date, any outstanding obligations under the agreement would generally need to be repaid, unless refinanced, repaid earlier, or otherwise modified under its terms.

What leverage covenant is included in Alliant Energy’s new Credit Agreement?

The Credit Agreement requires Alliant Energy to maintain a consolidated debt-to-capital ratio not greater than 65%. Debt includes specified long- and short-term obligations, while the equity component excludes accumulated other comprehensive income or loss for covenant calculation purposes.

What lien restrictions are in Alliant Energy’s new Credit Agreement?

The agreement generally prohibits placing liens on company or subsidiary property, subject to defined exceptions. These include liens securing obligations up to 10% of consolidated tangible assets, certain governmental and statutory liens, limited additional non-recourse debt, and purchase money liens.

What events of default are tied to other debt in Alliant Energy’s Credit Agreement?

The Credit Agreement includes a cross-default provision triggered if Alliant Energy or certain subsidiaries default on non‑recourse debt totaling $100 million or more. Bankruptcy events also cause outstanding obligations under the facility to become immediately due and payable.

Filing Exhibits & Attachments

5 documents