By Wendy Van Sickle and Cristal Cody
Columbus, Ohio, March 27 – Wisconsin Power and Light Co. priced $300 million of 4.95% debentures due April 1, 2033 (expected: A3/A) on Monday, according to an FWP filing with the Securities and Exchange Commission.
The notes priced at 99.828 to yield 4.972%, or a spread of 145 basis points over Treasuries, versus talk in the 180 bps area.
The notes feature a make-whole call followed by a par call.
MUFG Securities Americas Inc., KeyBanc Capital Markets Inc., TD Securities (USA) LLC and Wells Fargo Securities, LLC are the joint bookrunners.
Proceeds from the offering will be used for eligible green projects.
Wisconsin Power and Light is a subsidiary of Madison, Wis.-based utility holding company Alliant Energy.
| Issuer: | Wisconsin Power and Light Co.
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| Amount: | $300 million
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| Issue: | Debentures
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| Maturity: | April 1, 2033
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| Bookrunners: | MUFG Securities Americas Inc., KeyBanc Capital Markets Inc., TD Securities (USA) LLC and Wells Fargo Securities, LLC
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| Co-managers: | Comerica Securities, Inc., Mischler Financial Group, Inc. and U.S. Bancorp Investments, Inc.
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| Trustee: | U.S. Bank Trust Co., NA
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| Counsel to issuer: | Perkins Coie LLP
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| Counsel to underwriters: | Gibson, Dunn & Crutcher LLP
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| Coupon: | 4.95%
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| Price: | 99.828
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| Yield: | 4.972%
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| Spread: | Treasuries plus 145 bps
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| Call features: | Make-whole call at Treasuries plus 25 bps before Jan. 1, 2033; par call after that
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| Trade date: | March 27
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| Settlement date: | March 30
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| Ratings: | Moody’s: A3
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| S&P: A
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| Distribution: | SEC registered
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| Price talk: | Treasuries plus 180 bps area
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| Cusip: | 976826BR7
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