WASHINGTON (dpa-AFX) - Alliant Energy Corp. (LNT), a public utility holding company, on Monday announced that it plans to offer $500 million of its convertible senior notes, due 2028.
The company plans to grant initial purchasers a 13-day option to buy up to an additional $75 million in convertible notes from the issue date.
The company will use the net proceeds from the convertible notes offering to repay or refinance debt, reduce commercial paper, or for general corporate purposes.
Interest will be paid semiannually in arrears, and conversions will be settled in cash, stock of $0.01 per share, or a combination, at the company's discretion. The terms will be finalized through negotiations with initial purchasers.
In the pre-market trading, Alliant Energy is 0.73% lesser at $61.31 on the Nasdaq.
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