AGL Capital Corporation Announces Public Offering of $250 Million of Senior Notes
OREANDA-NEWS. AGL Capital Corporation, a wholly owned financing subsidiary of AGL Resources Inc. (NYSE: GAS), announced a registered public offering of an aggregate principal amount of $250 million of senior notes due November 15, 2025 at an interest rate of 3.875%. The senior notes will be guaranteed by AGL Resources. The offering is expected to close on November 18, 2015.
The company estimates that the net proceeds from the offering will be approximately $248 million. The company expects to use approximately $200 million of the net proceeds from the sale of the senior notes to repay short-term indebtedness incurred under its commercial paper program. The company used $200 million of funds from its commercial paper program to repay its 4.95% senior notes that matured on January 15, 2015. The balance of the net proceeds will be used for general corporate purposes, including capital expenditures associated with increased utility investment and construction of AGL Resources' new pipeline projects.
Mitsubishi UFJ Securities (USA), Inc., SunTrust Robinson Humphrey, Inc., Wells Fargo Securities, LLC, and Morgan Stanley & Co. LLC are the joint book-running managers for the offering.
About AGL Resources
AGL Resources (NYSE: GAS) is an Atlanta-based energy services holding company with operations in natural gas distribution, retail operations, wholesale services and midstream operations. AGL Resources serves approximately 4.5 million utility customers through its regulated distribution subsidiaries in seven states. The company also serves over 1 million retail customers through its SouthStar Energy Services joint venture and its Pivotal Home Solutions subsidiary, which market natural gas and related home services. Other non-utility businesses include asset management for natural gas wholesale customers through its Sequent Energy Management subsidiary and ownership and operation of natural gas storage facilities. AGL Resources is a Fortune 500 company and member of the S&P 500 Index.
Комментарии