Wisconsin Power and Light Company Completes $300,000,000 Debt Offering
MADISON, Wis., Aug. 15 /PRNewswire/ -- Wisconsin Power and Light Company (WPL), an Alliant Energy company (NYSE: LNT), has completed a public offering of $300 million aggregate principal amount of debentures. The senior debentures have an interest rate of 6.375% and will be due on August 15, 2037. (Logo: http://www.newscom.com/cgi-bin/prnh/20020405/LNTLOGO) WPL will apply the approximately $296 million in net proceeds from this offering to repay short-term debt incurred to repay $105 Million aggregate principal amount of 7% senior debentures that became due in June 2007 and to finance utility construction expenditures, to issue a common stock dividend to the parent corporation to realign its capital structure, and for working capital purposes. The offering was marketed through a group of underwriters, including Banc of America Securities LLC, and Merrill Lynch & Co. as joint book-running managers and Citi Markets and Banking and KeyBanc Capital Markets as co-managers. Alliant Energy is an energy-services provider with subsidiaries serving approximately 1 million electric and over 400,000 natural gas customers. Providing its customers in the Midwest with regulated electric and natural gas service is the company's primary focus. Wisconsin Power and Light, the company's Wisconsin utility subsidiary, serves 456,000 electric and 182,000 natural gas customers. Alliant Energy, headquartered in Madison, Wis., is a Fortune 1000 company traded on the New York Stock Exchange under the symbol LNT. For more information, visit the company's Web site at http://www.alliantenergy.com.
SOURCE Wisconsin Power and Light Company