NiSource Inc. sold $750 million of its 2.95% notes due Sept. 1, 2029, at 99.826% of the principal amount, according to an Aug. 7 free writing prospectus.
The company plans to use net proceeds for general corporate purposes, including financing capital expenditures, making additions to working capital and repaying existing indebtedness.
Interest on the notes is payable March 1 and Sept.1 of each year, beginning March 1, 2020. The notes have spread to benchmark Treasury of 130 basis points.
The issue was rated Baa2 by Moody's, BBB+ by S&P Global Ratings and BBB by Fitch Ratings.
Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Mizuho Securities USA LLC and U.S. Bancorp Investments Inc. served as joint book-running managers. KeyBanc Capital Markets Inc. and PNC Capital Markets LLC acted as senior co-managers. BofA Securities Inc. and Loop Capital Markets LLC were co-managers.