"" Interstate Power and Light Issues $500M Senior Debentures
IPL, a subsidiary of Alliant Energy Corporation, priced a public offering of senior debentures with a 5.100% interest rate due September 30, 2031. The company plans to use proceeds to reduce outstanding capital under its receivables purchase and sale program, reduce outstanding commercial paper, and for general corporate purposes.
Joint Book-Running Managers
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 offering. Academy Securities, Inc., Fifth Third Securities, Inc., KeyBanc Capital Markets Inc., and TD Securities (USA) LLC acted as co-managers.
Debenture Details
The offering is expected to close on Thursday, subject to customary closing conditions. The debentures have a 5.100% interest rate due September 30, 2031.
About Interstate Power and Light
Interstate Power and Light Company is Alliant Energy Corporation’s Iowa utility subsidiary, based in Cedar Rapids, Iowa.