Ameren Illinois Co. on Nov. 28 issued and sold $500 million principal amount of its 3.70% first mortgage bonds due 2047.
The Ameren Corp. subsidiary plans to use the $492.0 million in net proceeds it received, before expenses, to repay short-term debt, including short-term debt that Ameren Illinois incurred in connection with the repayment at maturity of $250 million aggregate principal amount of its 6.125% senior secured notes due Nov. 15, according to a Form 8-K.
The bonds have a spread to benchmark Treasury of 93 basis points.
J.P. Morgan Securities LLC, Mizuho Securities USA LLC, MUFG Securities Americas Inc., BNP Paribas Securities Corp., KeyBanc Capital Markets Inc., SunTrust Robinson Humphrey Inc. and TD Securities (USA) LLC acted as joint book-running managers.
BNY Mellon Capital Markets LLC, U.S. Bancorp Investments Inc., Blaylock Van LLC, C.L. King & Associates Inc. and Loop Capital Markets LLC were the co-managers.