CEDAR RAPIDS, Iowa, June 15 /PRNewswire-FirstCall/ -- Interstate Power and Light Company (IPL), a subsidiary of Alliant Energy Corporation (NYSE: LNT), has completed a public offering of $150,000,000 aggregate principal amount of senior debentures. The senior debentures have an interest rate of 3.30% and will be due on June 15, 2015.
IPL intends to apply the approximately $148.4 million in net proceeds from this offering initially to repay short-term debt, including that incurred to finance equipment purchases and construction expenditures on an interim basis, and invest in short-term assets and thereafter to fund capital expenditures principally consisting of wind farm and pollution control equipment, and for general working capital purposes.
The offering was marketed through a group of underwriters, including Barclays Capital Inc., J.P. Morgan Securities Inc., RBS Securities Inc., UBS Securities LLC and BNY Mellon Capital Markets, LLC as joint book-running 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