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Electric utilities

Alliant Energy Corporation Issues $75 Million in Convertible Senior Notes

Strategic Insights

— 1 min read

Alliant Energy Corporation has issued an additional $75 million in aggregate principal amount of 3.875% Convertible Senior Notes due 2026 to qualified institutional buyers, bringing the total offering to $500 million. This move follows the company's previous offering of $500 million in Initial Notes on March 2, 2023, with the Option Notes having the same terms and issued under the same indenture as the Initial Notes. The net proceeds from the offering were approximately $73.7 million, after deducting fees and estimated expenses payable by the Company.

Key Takeaways:

  • Alliant Energy Corporation issued $75 million in 3.875% Convertible Senior Notes due 2026 on March 10, 2023, as part of a private offering to qualified institutional buyers.
  • The notes were issued under the same indenture as the company's previously disclosed $500 million offering of Initial Notes, which closed on March 2, 2023.
  • The net proceeds from the offering of the Option Notes were approximately $73.7 million, after deducting fees and estimated expenses payable by the Company.
  • The Option Notes have the same terms as the Initial Notes, including a fixed interest rate of 3.875% and a maturity date of March 15, 2026.
  • The maximum number of shares of Common Stock issuable upon conversion of the Option Notes, including pursuant to any increase in the conversion rate for any Option Notes converted in connection with a Make-Whole Fundamental Change, is 1,457,437.
  • The Option Notes and the underlying shares of Common Stock issuable upon conversion of the Option Notes have not been and will not be registered under the Securities Act, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Statistics:

  • Aggregate principal amount of the Option Notes issued: $75 million
  • Total offering including the Initial Notes: $500 million
  • Net proceeds from the offering of the Option Notes: $73.7 million
  • Maximum number of shares of Common Stock issuable upon conversion of the Option Notes: 1,457,437
  • Fixed interest rate of the Option Notes: 3.875%
  • Maturity date of the Option Notes: March 15, 2026

Sources:

  • UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
  • [None explicitly cited in the source text]

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