WGL Holdings Inc. filed to sell $300 million of its floating rate notes due 2019, according to a Nov. 27 prospectus supplement.
Interest on the notes will accrue from Nov. 29 and will be paid quarterly on Feb. 28, May 29, Aug. 29 and Nov. 29 of each year, starting on Feb. 28, 2018, at a rate equal to the three-month LIBOR plus 40 basis points.
Net proceeds from the offering is expected to amount to $298.4 million and is intended to be used for general corporate purposes, including short-term debt repayment, a Washington Gas Light Co. equity contribution and CapEx funds.
The notes will mature Nov. 29, 2019.
