WEC Subsidiary Prices $300M 6.05% Senior Notes Due 2056
WEC is trading near its 52-week low of $102.95 (3.0% above the low).
Summary
Wisconsin Public Service Corp, a WEC Energy Group subsidiary, filed a pricing term sheet for a $300 million offering of 6.05% senior notes due August 15, 2056. The 30-year tenor and 6.05% coupon reflect current long-term utility borrowing costs. This follows WEC's massive $37.5 billion capital plan unveiled in June, which anticipated significant external financing. The offering is a routine but material step in funding that plan, with no immediate dilution to equity holders. The notes are senior unsecured obligations of the subsidiary, not guaranteed by WEC Energy Group.
At the time of this announcement, WEC was trading at $106.00 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $34.5B. The 52-week trading range was $102.95 to $119.91. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.