Press release
Alliant Energy Announces Proposed Offering of $500 Million of Convertible Senior Notes due 2026
MADISON, Wis.--(BUSINESS WIRE)-- Alliant Energy Corporation (NASDAQ: LNT) announced today that it intends to offer, subject to market and other conditions,
About this update from Alliant Energy Corporation
[{"type":"text","content":" MADISON, Wis.--(BUSINESS WIRE)--\nAlliant Energy Corporation (NASDAQ: LNT) announced today that it intends to offer, subject to market and other conditions, $500 million aggregate principal amount of its convertible senior notes due 2026 in a private placement under the Securities Act of 1933, as amended (the “Securities Act”). Alliant Energy also intends to grant to each of the initial purchasers of the convertible notes an option to purchase, within a 13-day period from, and including, the date on which the convertible notes are first issued, up to an additional $75 million aggregate principal amount of the convertible notes.\n\nAlliant Energy intends to use the net proceeds from the offering of the convertible notes for general corporate purposes, which may include repayment or refinancing of debt, working capital, construction and acquisition expenditures, investments and repurchases and redemptions of securities.\n\nThe convertible notes will be senior unsecured obligations of Alliant Energy, and will be convertible at the option of the holders of such convertible notes upon satisfaction of certain conditions and during certain periods. Interest will be payable semiannually in arrears. Alliant Energy will settle conversions of the convertible notes by paying cash up to the aggregate principal amount of the convertible notes to be converted and paying or delivering, as the case may be, cash, shares of its common stock, $0.01 par value per share, or a combination of cash and shares of its common stock, at its election, in respect of the remainder, if any, of its conversion obligation in excess of the aggregate principal amount of the convertible notes being converted. The interest rate, the initial conversion rate, and other terms of the convertible notes will be determined by negotiations between Alliant Energy and the initial purchasers of the convertible notes.\n\nThe offering is being made to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act. Any offers of the convertible notes will be made only by means of a private offering memorandum. None of the convertible notes or any shares of the common stock issuable upon conversion of the convertible notes have been or are expected to be registered under the Securities Act or any state securities laws and, unless so ...