Interstate Power and Light Company Completes Debt Offering

CEDAR RAPIDS, Iowa, Aug. 26 /PRNewswire-FirstCall/ -- Interstate Power and Light Company (IPL), a subsidiary of Alliant Energy Corporation (NYSE: LNT), has completed a public offering of $200,000,000 aggregate principal amount of senior debentures.  The senior debentures have an interest rate of 3.65% and will be due on September 1, 2020.

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IPL intends to apply the approximately $198.3 million in net proceeds from this offering initially to invest in short-term assets and thereafter to fund the early redemption of its $200.0 million aggregate principal amount of 6 3/4% Series B Senior Debentures due March 15, 2011.

The offering was marketed through a group of underwriters consisting of Banc of America Securities LLC and Wells Fargo Securities, LLC, as joint book-running managers, and Mitsubishi UFJ Securities (USA), Inc., Commerz Markets LLC and Mizuho Securities USA Inc., as co-managers.

Interstate Power and Light is a public utility engaged principally in the generation and distribution of electric energy and the distribution and transportation of natural gas in selective markets in Iowa and southern Minnesota, serving approximately 525,000 electric and 234,000 natural gas customers.

SOURCE Alliant Energy Corporation