Ameren Announces Pricing of Senior Notes due 2035

Rhea-AI Summary

Ameren (NYSE: AEE) has announced the pricing of $750 million aggregate principal amount of 5.375% senior notes due 2035 at 99.822% of their principal amount. The transaction is expected to close on March 7, 2025. The company plans to use the net proceeds for general corporate purposes, including repaying a portion of its short-term debt.

The offering is being managed by joint book-running managers including Barclays Capital, J.P. Morgan Securities, Mizuho Securities USA, MUFG Securities Americas, and Wells Fargo Securities. Ameren serves 2.5 million electric customers and over 900,000 natural gas customers across a 64,000-square-mile area through its regulated utility subsidiaries Ameren Missouri and Ameren Illinois.

Positive

• Debt refinancing strategy to address short-term debt
• Strong interest from major financial institutions as book-runners
• Large customer base of 2.5M electric and 900K gas customers

Negative

• Taking on $750M in new long-term debt
• Notes priced slightly below par at 99.822%

ST. LOUIS, Feb. 27, 2025 /PRNewswire/ -- Ameren Corporation (NYSE: AEE) announced today the pricing of a public offering of $750 million aggregate principal amount of 5.375% senior notes due 2035 at 99.822% of their principal amount. The transaction is expected to close on March 7, 2025, subject to the satisfaction of customary closing conditions.

Ameren intends to use the net proceeds of the offering for general corporate purposes, including to repay a portion of its short-term debt.

Barclays Capital Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC, MUFG Securities Americas Inc. and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering.

The offering is being made only by means of a prospectus and related prospectus supplement. A prospectus supplement related to the offering will be filed with the Securities and Exchange Commission. Copies of the prospectus and related prospectus supplement for the offering, when available, may be obtained via the Securities and Exchange Commission's website at www.sec.gov or by contacting Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone at 1-888-603-5847 or by email at barclaysprospectus@broadridge.com. This press release does not constitute an offer to sell or a solicitation of an offer to buy the senior notes and shall not constitute an offer, solicitation or sale in any jurisdiction in which, or to any person to whom, such an offer, solicitation or sale is unlawful.

About Ameren

St. Louis-based Ameren Corporation powers the quality of life for 2.5 million electric customers and more than 900,000 natural gas customers in a 64,000-square-mile area through its Ameren Missouri and Ameren Illinois rate-regulated utility subsidiaries. Ameren Illinois provides electric transmission and distribution service and natural gas distribution service. Ameren Missouri provides electric generation, transmission and distribution service, as well as natural gas distribution service. Ameren Transmission Company of Illinois develops, owns and operates rate-regulated regional electric transmission projects in the Midcontinent Independent System Operator, Inc. For more information, visit Ameren.com, or follow us on social media at @AmerenCorp on X, Facebook.com/AmerenCorp, or LinkedIn/company/Ameren.

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SOURCE Ameren Corporation

FAQ

What is the interest rate and maturity of Ameren's (AEE) new senior notes offering?

Ameren's senior notes offering has a 5.375% interest rate and matures in 2035.

How much is Ameren (AEE) raising through its 2035 senior notes offering?

Ameren is raising $750 million through its senior notes offering.

When will Ameren's (AEE) 2035 senior notes offering close?

The senior notes offering is expected to close on March 7, 2025.

How will Ameren (AEE) use the proceeds from its 2035 senior notes?

Ameren will use the proceeds for general corporate purposes, including repaying a portion of short-term debt.

Which banks are managing Ameren's (AEE) 2035 senior notes offering?

Barclays, J.P. Morgan, Mizuho Securities, MUFG Securities, and Wells Fargo Securities are joint book-running managers.