Alliant Energy Corp IPL Announces $300M Offering

By Tamara Parker • Thursday, September 11 17:08 • Permanent Link

Interstate Power and Light Company (IPL), a subsidiary of Alliant Energy Corporation, has announced the pricing of its public offering of $300 million aggregate principal amount of 5.600% senior debentures due 2055. The senior debentures will be due on October 1, 2055, and the company intends to use the net proceeds from this offering to reduce outstanding capital under its receivables purchase and sale program, to reduce outstanding commercial paper, and/or for general corporate purposes.

The offering was marketed through a group of underwriters consisting of KeyBanc Capital Markets Inc., PNC Capital Markets LLC, TD Securities (USA) LLC, and U.S. Bancorp Investments, Inc. as joint book-running managers, and Academy Securities, Inc. and Comerica Securities, Inc. as co-managers. The offering is being made only by means of a prospectus supplement and accompanying prospectus filed with the Securities and Exchange Commission.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

As of the last reported period, IPL's total debt stood at $7.5 billion, with long-term debt amounting to $6.7 billion. The company's cash and cash equivalents were reported at $125 million, and net cash provided by operating activities reached $1.2 billion.

In terms of revenue, IPL reported a total operating revenue of $3.6 billion for the last reported period, with a gross profit margin of 37% and a net profit margin of 14%. The company's EBITDA stood at $1.5 billion, indicating a strong operational performance.

It will be interesting to see how the issuance of these senior debentures impacts IPL's financial position in the upcoming period. Today the company's shares have moved 0.67% to a price of $64.42. If you want to know more, read the company's complete 8-K report here.

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