Interstate Power and Light Company (IPL), a wholly owned subsidiary of Alliant Energy Corporation, announced the pricing of its public offering of $600 million aggregate principal amount of 5.600% senior debentures due 2035. The debentures will mature on June 29, 2035.
IPL intends to use the net proceeds from this offering to retire existing debt, specifically $50 million of 5.50% senior debentures maturing on July 15, 2025, and $250 million of 3.40% senior debentures maturing on August 15, 2025. The remaining proceeds will be used to reduce outstanding capital under its receivables purchase and sale program, reduce outstanding commercial paper, and/or for general corporate purposes.
This debt offering is a component of Alliant Energy's broader financing strategy to fund its capital expenditure plan and manage its balance sheet. The successful pricing of these debentures provides IPL with capital to address upcoming maturities and support ongoing operational and investment needs.
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