Interstate Power and Light Company, an Iowa-based utility subsidiary of Alliant Energy Corp., has priced $500 million of senior unsecured debentures at a fixed coupon of 5.100%, maturing on September 30, 2031.
The offering is expected to close on Thursday, subject to customary closing conditions, according to a prospectus supplement filed with the U.S. Securities and Exchange Commission. The company plans to use proceeds primarily to reduce outstanding balances under its receivables purchase and sale program and commercial paper facilities, while also funding general corporate purposes.
Mizuho Securities USA LLC, PNC Capital Markets LLC, U.S. Bancorp Investments, Inc., and Wells Fargo Securities, LLC served as joint book-running managers for the transaction. Academy Securities, Inc., Fifth Third Securities, Inc., KeyBanc Capital Markets Inc., and TD Securities (USA) LLC acted as co-managers. The securities were issued under a shelf registration statement previously filed with the SEC.
