Interstate Power and Light Company (IPL), a subsidiary of Alliant Energy Corporation, has announced the pricing of its public offering of $600 million aggregate principal amount of 5.600% senior debentures due 2035. This offering is intended to retire $50 million of 5.50% senior debentures maturing on July 15, 2025, and $250 million of 3.40% senior debentures maturing on August 15, 2025, to reduce outstanding capital under its receivables purchase and sale program, to reduce outstanding commercial paper, and/or for general corporate purposes.
The offering, marketed through a group of underwriters, is expected to close on May 19, 2025. This offering is a part of a shelf registration statement filed with the Securities and Exchange Commission.
It is important to note that this press release does not constitute an offer to sell or the solicitation of an offer to buy these securities.
Alliant Energy Corporation’s Iowa utility subsidiary, IPL, operates under the trade name Alliant Energy and is based in Cedar Rapids, Iowa.
This announcement showcases a strategic move by IPL to restructure its debt and optimize its capital structure, which will have a significant impact on its financial position and future prospects. Following these announcements, the company's shares moved 1.25%, and are now trading at a price of $62.48. For more information, read the company's full 8-K submission here.
