NiSource Inc. sold $1 billion of its 3.600% notes due May 1, 2030, according to an April 7 prospectus.
The company plans to use net proceeds for general corporate purposes, including to finance capital expenditures, additions to working capital and repayment of existing indebtedness.
Interest on the notes is payable May 1 and Nov. 1 of each year, beginning Nov. 1, 2020.
The notes have a spread to benchmark Treasury of 290 basis points and were rated Baa2 by Moody's, BBB+ by S&P Global Ratings and BBB by Fitch Ratings.
Barclays Capital Inc., J.P. Morgan Securities LLC, MUFG Securities Americas Inc. and PNC Capital Markets LLC served as joint book-running managers. BNP Paribas Securities Corp., KeyBanc Capital Markets Inc., U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC acted as co-managers.