MERRILLVILLE, Ind., June 10, 2011 /PRNewswire/ -- NiSource Inc. (NYSE: NI) today announced that its finance subsidiary, NiSource Finance Corp., has completed the sale of $400 million aggregate principal amount of 5.95% Notes due 2041 in an underwritten public offering. NiSource will fully and unconditionally guarantee NiSource Finance's obligations under the Notes.
NiSource Finance intends to use the net proceeds from the sale of the Notes to repay short-term bank borrowings under its revolving credit facility.
Scotia Capital (USA) Inc., U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC acted as joint book-running managers for the offering. Banco Bilbao Vizcaya Argentaria, S.A., Fifth Third Securities, Inc., Mizuho Securities USA Inc. and The Huntington Investment Company acted as co-managers.
NiSource Inc. (NYSE: NI), based in Merrillville, Ind., is a Fortune 500 company engaged in natural gas transmission, storage and distribution, as well as electric generation, transmission and distribution. NiSource operating companies deliver energy to 3.8 million customers located within the high-demand energy corridor stretching from the Gulf Coast through the Midwest to New England. Information about NiSource and its subsidiaries is available via the Internet at www.nisource.com. NI-F
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Those statements include statements regarding the intent, belief or current expectations of NiSource and its management. Although NiSource believes that its expectations are based on reasonable assumptions, it can give no assurance that its goals will be achieved. Readers are cautioned that the forward-looking statements in this news release are not guarantees of future performance and involve a number of risks and uncertainties, and that actual results could differ materially from those indicated by such forward-looking statements. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, but are not limited to, the following: weather; fluctuations in supply and demand for energy commodities; growth opportunities for NiSource's businesses; increased competition in deregulated energy markets; the success of regulatory and commercial initiatives; dealings with third parties over whom NiSource has no control; actual operating experience of NiSource's assets; the regulatory process; regulatory and legislative changes; the impact of potential new environmental laws or regulations; the results of material litigation; changes in pension funding requirements; changes in general economic, capital and commodity market conditions; and counterparty credit risk, and the matters set forth in the "Risk Factors" section in NiSource's 2010 Form 10-K and 2011 Form 10-Q, many of which risks are beyond the control of NiSource. NiSource expressly disclaims a duty to update any of the forward-looking statements contained in this release.
SOURCE NiSource Inc.