Black Hills Corp. Announces Pricing of $450 Million Debt Offering
Black Hills Corp. (NYSE: BKH) has announced the pricing of a $450 million registered public debt offering of senior unsecured notes with a 4.550% interest rate, due January 31, 2031. The offering is expected to close on October 2, 2025.
The utility company plans to use the proceeds primarily to repay or retire its existing $300 million 3.950% notes due January 15, 2026. Any remaining funds will be allocated for general corporate purposes. The company serves 1.35 million natural gas and electric utility customers across eight states.
Black Hills Corp. (NYSE: BKH) ha annunciato la quotazione di una emissione pubblica registrata di debito senior non garantito da 450 milioni di dollari, con un tasso di interesse del 4,550%, in scadenza il 31 gennaio 2031. L'offerta dovrebbe chiudersi il 2 ottobre 2025.
La società utilitaria prevede di utilizzare gli incassi principalmente per rimborsare o estinguere i propri attuali note non garantite da 300 milioni di dollari al 3,950% con scadenza al 15 gennaio 2026. Qualsiasi somma residua sarà destinata a scopi aziendali generali. L'azienda serve 1,35 milioni di clienti di gas naturale ed elettricità in otto stati.
Black Hills Corp. (NYSE: BKH) ha anunciado el pricing de una emisión pública registrada de deuda senior no garantizada por 450 millones de dólares con una tasa de interés del 4,550%, con vencimiento el 31 de enero de 2031. Se espera que la oferta cierre el 2 de octubre de 2025.
La compañía de servicios públicos planea usar los ingresos principalmente para pagar o cancelar sus actuales notas no garantizadas de 300 millones de dólares al 3,950% con vencimiento el 15 de enero de 2026. Cualquier fondo restante se destinará a fines corporativos generales. La compañía atiende a 1,35 millones de clientes de gas natural y electricidad en ocho estados.
Black Hills Corp. (NYSE: BKH)는 4.550%의 이자율로 만기 2031년 1월 31일인 선순위 무담보 채무의 4억5천만 달러 규모의 등록 공모를 가격 결정했다고 발표했습니다. 이번 공모는 2025년 10월 2일에 마감될 예정입니다.
유틸리티 회사는 조달된 자금을 주로 2026년 1월 15일 만기가 되는 3.950%의 3억 달러 규모의 기존 채권을 상환하거나 상환하는 데 사용할 계획입니다. 잔여 자금은 일반 기업 목적에 배정될 것입니다. 이 회사는 8개 주에서 135만 명의 천연가스 및 전력 유틸리티 고객에게 서비스를 제공합니다.
Black Hills Corp. (NYSE: BKH) a annoncé le pricing d'une offre publique enregistrée de dette senior non garantie de 450 millions de dollars avec un taux d'intérêt de 4,550%, arrivant à échéance le 31 janvier 2031. L'offre devrait être clôturée le 2 octobre 2025.
La société de services publics prévoit d'utiliser principalement les produits pour rembourser ou racheter ses obligations non garanties de 300 millions de dollars au taux de 3,950% arrivant à échéance le 15 janvier 2026. Tout fonds restant sera affecté à des besoins généraux de l'entreprise. L'entreprise dessert 1,35 million de clients de gaz naturel et d'électricité dans huit états.
Black Hills Corp. (NYSE: BKH) hat die Preisfestsetzung für ein registriertes öffentliches Schulddarlehen in Höhe von 450 Mio. USD bekannt gegeben, mit einem Zinssatz von 4,550%, fällig am 31. Januar 2031. Die Emission wird voraussichtlich am 2. Oktober 2025 abgeschlossen.
Das Versorgungsunternehmen plant, die Erlöse hauptsächlich zur Tilgung oder Abwicklung seiner bestehenden 3,950%-Anleihen über 300 Mio. USD mit Fälligkeit 15. Januar 2026 zu verwenden. Etwaige verbleibende Mittel werden für allgemeine Unternehmenszwecke verwendet. Das Unternehmen bedient 1,35 Millionen Gas- und Elektrizitätskunden in acht Bundesstaaten.
Black Hills Corp. (NYSE: BKH) أعلنت عن تسعير إصدار دين عام مسجل قدره 450 مليون دولار من سندات بدون امتيازات عالية رئاسية بفائدة 4.550%، استحقاق 31 يناير 2031. من المتوقع أن يتم إغلاق الإصدار في 2 أكتوبر 2025.
تخطط شركة الخدمات العامة لاستخدام العائدات بشكل رئيسي لسداد أو شراء سنداتها الحالية 3.950% من 300 مليون دولار مستحقة في 15 يناير 2026. أي أموال متبقية ستُخصص لأغراض عامة للشركة. الشركة تخدم 1.35 مليون عميل من الغاز الطبيعي والكهرباء في ثمانية ولايات.
Black Hills Corp. (NYSE: BKH) 已宣布定价一项 4.5亿美元的注册公开债务发行，票面利率为 4.550%，到期日为 2031 年 1 月 31 日。该发行预计将于 2025 年 10 月 2 日完成。
该公用事业公司计划将募集资金主要用于偿还或赎回其现有的 3.950% 的 3 亿美元债券，到期日为 2026 年 1 月 15 日。如有余额，将用于一般公司目的。该公司在八个州为 135 万名天然气和电力公用事业客户提供服务。
- New notes offer longer maturity until 2031, improving debt structure
- Proactive refinancing of existing $300M debt due in 2026
- Strong market presence serving 1.35 million utility customers across 8 states
- Higher interest rate of 4.550% compared to existing 3.950% notes
- Increased debt load with $450M new notes vs. $300M existing notes
Insights
BKH's $450M debt offering at 4.55% improves financial flexibility by refinancing existing debt due in 2026.
Black Hills Corp has priced a
The refinancing represents a proactive approach to debt management, extending the maturity profile by approximately 5 years, though at a slightly higher interest rate reflecting the current rate environment. While the company will incur an additional
For utilities like Black Hills, which serves 1.35 million natural gas and electric customers across eight states, debt management is a critical component of financial stability. This transaction appears to be part of normal capital management rather than signaling any operational concerns. The offering demonstrates continued market access and the company's ability to secure long-term financing, which is particularly valuable given the uncertain interest rate environment. The closing is expected on October 2, 2025, subject to customary conditions.
RAPID CITY, S.D., Sept. 25, 2025 (GLOBE NEWSWIRE) -- Black Hills Corp. (NYSE: BKH) today announced the pricing of a registered public debt offering of
The company intends to use the net proceeds from the offering to repay, redeem or otherwise retire all
The offering is being made only by means of a prospectus supplement relating to the offering and accompanying base prospectus previously filed with the Securities and Exchange Commission, copies of which may be obtained for free by visiting EDGAR on the SEC website at www.sec.gov or, upon request, from J.P. Morgan Securities LLC, by calling 212-834-4533 (collect) or BofA Securities, Inc., by calling toll-free at 1-800-294-1322.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of any securities 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.
Black Hills Corp.
Black Hills Corp. (NYSE: BKH) is a customer-focused, growth-oriented utility company with a tradition of improving life with energy and a vision to be the energy partner of choice. Based in Rapid City, South Dakota, the company serves 1.35 million natural gas and electric utility customers in eight states: Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming.
Investor Relations
Sal Diaz
605-399-5079
investorrelations@blackhillscorp.com
24-Hour Media Relations Line
888-242-3969
Caution Regarding Forward Looking Statements
This news release includes “forward-looking statements” as defined by the Securities and Exchange Commission, or SEC. We make these forward-looking statements in reliance on the safe harbor protections provided under the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this news release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward looking statements, including our expectations about the completion and timing of the transaction described in this news release. These forward-looking statements are based on assumptions which we believe are reasonable based on current expectations and projections about future events and industry conditions and trends affecting our business. However, whether actual results and developments will conform to our expectations and predictions is subject to a number of risks and uncertainties that, among other things, could cause actual results to differ materially from those contained in the forward-looking statements, including without limitations, the risk factors described in Item 1A of Part I of our 2024 Annual Report on Form 10-K filed with the SEC, in our Current Report on Form 8-K filed on Sept. 15, 2025, and in other reports that we file with the SEC from time to time.
New factors that could cause actual results to differ materially from those described in forward looking statements emerge from time-to-time, and it is not possible for us to predict all such factors, or the extent to which any such factor or combination of factors may cause actual results to differ from those contained in any forward-looking statement. We assume no obligation to update publicly any such forward-looking statements, whether as a result of new information, future events or otherwise.
FAQ
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