Interstate Power and Light Company Prices Debt Offering
$300 million in senior debentures will be due in 2033
MADISON, Wis.–(BUSINESS WIRE)–
Interstate Power and Light Company (“IPL”), a wholly owned subsidiary of Alliant Energy Corporation (NASDAQ: LNT), announced the pricing of its public offering of $300 million aggregate principal amount of 5.700% senior debentures. The senior debentures will be due on October 15, 2033. IPL intends to use the net proceeds from this offering to reduce outstanding capital under its receivables purchase and sale program, to reduce commercial paper classified as long-term debt, and/or for general corporate purposes. The closing of the offering is expected to occur on September 21, 2023, subject to the satisfaction of customary closing conditions.
The offering was marketed through a group of underwriters consisting of BofA Securities, Inc., Mizuho Securities USA LLC, MUFG Securities Americas Inc., U.S. Bancorp Investments, Inc., and Wells Fargo Securities, LLC, as joint book-running managers, and Siebert Williams Shank & Co. LLC and TD Securities (USA) LLC 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 IPL filed with the Securities and Exchange Commission (the “Commission”). Copies may be obtained by calling BofA Securities, Inc. toll free at 1-800-294-1322, Mizuho Securities USA LLC toll free at 1-866-271-7403, MUFG Securities Americas Inc. toll free at 1-877-649-6848, U.S. Bancorp Investments, Inc. toll free at 1-877-558-2607 or Wells Fargo Securities, LLC 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 Iowa utility subsidiary, Interstate Power and Light Company (IPL), utilizes the trade name of Alliant Energy (NASDAQ:LNT). The Iowa utility is based in Cedar Rapids, Iowa.
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 senior debentures and other risks outlined in IPL’s public filings with the Commission, including IPL’s most recent annual report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. All information provided in this news release speaks as of the date hereof. Except as otherwise required by law, IPL undertakes no obligation to update or revise its forward-looking statements.
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KEYWORDS: United States North America Wisconsin Iowa
INDUSTRY KEYWORDS: Energy Other Energy Utilities Oil/Gas
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