By Marisa Wong
Los Angeles, Aug. 8 – Wisconsin Power and Light Co. priced $600 million of 3.95% debentures due Sept. 1, 2032 (expected: A3/A) on Monday, according to an FWP filing with the Securities and Exchange Commission.
The notes priced at 98.822 to yield 4.094%, or a spread of 132 basis points over Treasuries.
The notes feature a make-whole call followed by a par call.
Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Mizuho Securities USA LLC and MUFG are the joint bookrunners.
Proceeds from the offering will be used for eligible green projects, as disclosed in a previous 424B5 filing with the SEC.
Wisconsin Power and Light is a subsidiary of Madison, Wis.-based utility holding company Alliant Energy.
| Issuer: | Wisconsin Power and Light Co.
|
| Amount: | $600 million
|
| Issue: | Debentures
|
| Maturity: | Sept. 1, 2032
|
| Bookrunners: | Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Mizuho Securities USA LLC and MUFG
|
| Senior co-manager: | KeyBanc Capital Markets Inc.
|
| Co-managers: | Comerica Securities, Inc., Siebert Williams Shank & Co., LLC and U.S. Bancorp Investments, Inc.
|
| Trustee: | U.S. Bank Trust Co., NA
|
| Counsel to issuer: | Perkins Coie LLP
|
| Counsel to underwriters: | Gibson, Dunn & Crutcher LLP
|
| Coupon: | 3.95%
|
| Price: | 98.822
|
| Yield: | 4.094%
|
| Spread: | Treasuries plus 132 bps
|
| Call features: | Make-whole call at Treasuries plus 20 bps before June 1, 2032; par call after that
|
| Trade date: | Aug. 8
|
| Settlement date: | Aug. 15
|
| Ratings: | Moody’s: A3
|
| S&P: A
|
| Distribution: | SEC registered
|
| Cusip: | 976826BQ9
|
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