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Published on 9/9/2014 in the Prospect News Private Placement Daily.

New Issue: Peoples Gas Light to issue $200 million of 4.21% mortgage bonds

By Lisa Kerner

Charlotte, N.C., Sept. 9 – Peoples Gas Light and Coke Co. agreed to sell $200 million of its first and refunding mortgage 4.21% bonds, series BBB due Nov. 1, 2044.

The transaction will fund on Nov. 3, according to a company news release.

Peoples will use a portion of the proceeds to refinance its existing $75 million first and refunding mortgage 4.875% bonds, series QQ, which become callable at par on Nov. 1.

Remaining proceeds will be used for general corporate purposes, including capital expenditures and the refinancing of short-term debt.

Peoples Gas, a subsidiary of Integrys Energy Group, Inc., is a Chicago-based regulated utility.

Issuer:Peoples Gas Light and Coke Co.
Issue:First and refunding mortgage bonds, series BBB
Amount:$200 million
Coupon:4.21%
Maturity:Nov. 1, 2044
Pricing date:Sept. 8
Settlement date:Nov. 3
Distribution:Private placement

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