EVANSVILLE, Ind., March 5 /PRNewswire-FirstCall/ -- Vectren Corporation announced Wednesday the pricing of $125 million in 6.25% Senior Monthly Notes due April 1, 2039 through its wholly-owned subsidiary, Vectren Utility Holdings, Inc. (VUHI), which provides financing for the company's regulated operations. The Notes may be redeemed by VUHI at any time on or after April 1, 2013, at 100% of the principal amount thereof plus accrued interest.
Edward Jones was the sole manager and book runner on the offering. The proceeds will be used to reduce VUHI's short term debt obligations incurred to fund its capital expenditure program and for other general corporate purposes. Subject to customary conditions, this transaction is expected to close on March 10, 2008.
About Vectren
Vectren Corporation is an energy holding company headquartered in Evansville, IN. Vectren's energy delivery subsidiaries provide gas and/or electricity to more than one million customers in adjoining service territories that cover nearly two-thirds of Indiana and west central Ohio. Vectren's nonutility subsidiaries and affiliates currently offer energy- related products and services to customers throughout the Midwest and Southeast. These include gas marketing and related services; coal production and sales; and energy infrastructure services. To learn more about Vectren, visit http://www.vectren.com/.
Safe Harbor for Forward-Looking Statements
All statements other than statements of historical fact included in this news release are forward-looking statements made in good faith by the company and are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Such statements are based on management's beliefs, as well as assumptions made by and information currently available to management and include such words as "believe", "anticipate", "endeavor", "estimate", "expect", "objective", "projection", "forecast", "goal", and similar expressions intended to identify forward- looking statements. Vectren cautions readers that the assumptions forming the basis for forward-looking statements include many factors that are beyond Vectren's ability to control or estimate precisely and actual results could differ materially from those contained in this document.
More detailed information about these factors is set forth in Vectren's and VUHI's filings with the Securities and Exchange Commission, including their 2007 annual reports on Form 10-K. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of changes in actual results, changes in assumptions, or other factors affecting such statements.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of the senior monthly notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering may only be made by means of a prospectus, copies of which may be obtained when available from Edward Jones at 12555 Manchester Road, St. Louis, MO 63131 or by calling (800) 441-2357.
