Alliant Energy Prices Offering Of $500 Mln Of Convertible Senior Notes

(RTTNews) - Alliant Energy Corporation (LNT), a public utility provider, said on Tuesday that it has priced offering of $500 million aggregate principal amount of its 3.875 percent convertible senior notes due March 25, 2026.

Alliant Energy intends to use the net proceeds for general corporate purposes.

The company has allowed the initial purchasers an option to buy up to an additional $75 million notes. The sale of the convertible notes is expected to be closed on March 2.

The net proceeds from offering will be at around $490.9 million, or $564.6 million, if the initial purchasers exercise their option to buy additional convertible notes in full.

The convertible notes will bear interest of 3.875 per year, payable semiannually in arrears on March 15 and September 15 of each year, beginning on September 15.

The conversion rate for the convertible notes will initially be 15.5461 shares of common stock per $1,000 principal amount of convertible notes, which is equal to an initial conversion price of around $64.32 per share.