Alliant Energy Plans Offering of $500 Million of Convertible Notes

By Robb M. Stewart

Alliant Energy Corp. said Monday it plans to sell $500 million of convertible senior notes due 2026 in a private placement, which may be used to repay or refinance debt, for construction and acquisition, investments, and repurchases and redemptions of securities.

The utility holding company said it intends to grant to each of the initial purchasers of the notes an option to buy within a 13-day period up to an additional $75 million of the convertible notes.

The notes will be senior unsecured obligations of Alliant Energy, and will be convertible at the option of the holders with the satisfaction of certain conditions and during certain periods, the company said. Interest will be payable semiannually in arrears.

Alliant's shares last closed at $52.72, down 4.5% in 2023 and 8.9% lower over the last 12 months.

Write to Robb M. Stewart at [e-mail]

(END) Dow Jones Newswires

02-27-23 0750ET