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WGL Holdings closes $300M floating rate notes offering

WGL Holdings Inc. closed its underwritten public offering of $300 million of its floating rate notes due 2019, according to a Dec. 1 SEC filing.

Interest on the notes will be paid quarterly on Feb. 28, May 29, Aug. 29 and Nov. 29 of each year, starting Feb. 28, at a rate equal to the three-month LIBOR plus 40 basis points. The notes will mature on Nov. 29, 2019.

Net proceeds from the offering amounted to about $298.4 million and is expected to be used for general corporate purposes, including short-term debt repayment, a Washington Gas Light Co. equity contribution and CapEx funds.