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

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