Alliant Energy prices $725M 5.75% notes due 2056

Alliant Energy Corporation entered into an underwriting agreement to sell $725 million aggregate principal amount of 5.750% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2056 in a public offering.

Rhea-AI Filing Summary

Alliant Energy Corporation entered into an underwriting agreement to sell $725 million aggregate principal amount of 5.750% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2056 in a public offering.

The Notes will be issued under an Indenture with The Bank of New York Mellon Trust Company, N.A., were registered on a Form S-3 shelf registration (No. 333-276062) and described in a prospectus supplement filed September 25, 2025. The underwriting agreement and related indentures and legal and tax opinions are filed as exhibits to this Current Report.

Positive

• $725 million in capital secured through a public offering
• 5.750% coupon set at pricing, providing predictable interest terms
• Offering executed via Form S-3 shelf, indicating registration and market readiness
• Established underwriters (BofA, MUFG, Barclays, Goldman Sachs, J.P. Morgan) participated

Negative

• Junior subordinated status means these notes rank below senior creditors
• Long-dated maturity (2056) extends fixed interest obligations far into the future

Insights

Financial Analyst

TL;DR: Alliant priced a $725M subordinated note offering, adding long-duration debt that boosts funding but increases long-term leverage.

The transaction supplies the company with $725 million of additional capital via 5.750% junior subordinated notes maturing in 2056, indicating access to capital markets and investor demand for long-dated utility credit. The use of a Form S-3 shelf and recognized underwriters suggests efficient execution and standard documentation. Investors should note the fixed coupon and reset feature which define future interest exposure.

Risk Analyst

TL;DR: Issuance of long-dated junior subordinated debt is material but carries subordinated creditor status and extended interest obligations.

The Notes are junior subordinated, meaning they rank below senior creditors, and mature in 2056, creating a long-term fixed interest obligation at a 5.750% coupon. This changes the companys capital structure by adding subordinated debt and may affect future flexibility depending on cash flow and refinancing conditions. The filing includes standard legal and tax opinions and reference to the underwriting syndicate.

8-K Event Classification

2 items: 8.01, 9.01

2 items

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Alliant Energy (LNT) announce in this 8-K?

The company agreed to sell $725 million of 5.750% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2056 in a public offering.

Who are the underwriters for Alliant Energy's note offering?

The representatives of the underwriters are BofA Securities, MUFG Securities Americas, Barclays Capital, Goldman Sachs & Co. LLC, and J.P. Morgan Securities LLC.

Under what registration was the offering made?

The Notes are registered under a Form S-3 shelf registration (Registration No. 333-276062) and a prospectus supplement filed September 25, 2025.

What legal and tax opinions were filed with the 8-K?

Perkins Coie LLP provided a legal opinion on the Notes and a U.S. federal income tax opinion regarding the Prospectus Supplement; both are filed as exhibits.

Who is the trustee for the Indenture governing the Notes?

The Bank of New York Mellon Trust Company, N.A. is identified as the trustee under the Indenture.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 09/25/2025 - 07:58 PM Learn about SEC filing dates

0000352541false00003525412025-09-232025-09-23

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported):   September 23, 2025

Name of Registrant, State of Incorporation, Address of Principal Executive Offices, Telephone Number,

Commission File Number, IRS Employer Identification Number

ALLIANT ENERGY CORPORATION

(a Wisconsin corporation)

4902 N. Biltmore Lane

Madison, Wisconsin 53718

Telephone (608) 458-3311

Commission File Number - 1-9894

IRS Employer Identification Number - 39-1380265

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class

Trading Symbol

Name of Each Exchange on Which Registered

Alliant Energy Corporation, Common Stock, $0.01 Par Value

LNT

Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01    Other Events.

On September 23, 2025, Alliant Energy Corporation (the “Company”) entered into an Underwriting Agreement (the “Underwriting Agreement”) with BofA Securities, Inc., MUFG Securities Americas Inc., Barclays Capital Inc., Goldman Sachs & Co. LLC, and J.P. Morgan Securities LLC, as representatives of the several underwriters listed therein (the “Underwriters”), pursuant to which the Company agreed to sell, and the Underwriters agreed to purchase, subject to the terms and conditions set forth therein, $725 million in aggregate principal amount of the Company’s 5.750% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2056 (the “Notes”), in a public offering (the “Offering”). The Notes are to be issued under an Indenture dated as of September 26, 2025, between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Indenture”), pursuant to a First Supplemental Indenture, dated September 26, 2025, between the Company and the Trustee (the “Supplemental Indenture”).

The Notes are registered under the Securities Act of 1933, as amended, pursuant to an automatic shelf registration statement on Form S-3 (Registration No. 333-276062) that the Company filed with the Securities and Exchange Commission (the “SEC”) on December 15, 2023, and amended on September 22, 2025 (the “Registration Statement”). The Registration Statement was supplemented by a prospectus supplement setting forth the terms of the Notes that the Company filed with the SEC on September 25, 2025 (the “Prospectus Supplement”).

This Current Report on Form 8-K is being filed for the purpose of filing exhibits to the Registration Statement relating to the public offering of the Notes, and all such exhibits are hereby incorporated into the Registration Statement by reference. The Underwriting Agreement is filed as Exhibit 1.1, the Indenture is filed as Exhibit 4.1, and the Supplemental Indenture is filed as Exhibit 4.2 to this Form 8-K.

On September 23, 2025, the Company issued a press release announcing that it had priced the Offering. The press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Perkins Coie LLP, counsel to the Company, has issued an opinion to the Company, dated September 26, 2025, regarding the legality of the Notes upon issuance thereof. Perkins Coie LLP, as United States income tax counsel to the Company in connection with the Registration Statement, has issued an opinion to the Company, dated September 26, 2025, regarding the discussion in the Prospectus Supplement under the caption “Material U.S. Federal Income Tax Considerations”. The opinions are filed as Exhibit 5.1 and Exhibit 8.1 hereto, respectively.

Item 9.01    Financial Statements and Exhibits.

(d)    Exhibits. The following exhibits are being filed herewith:

Exhibit No.						Description
1.1						Underwriting Agreement, dated September 23, 2025, among Alliant Energy Corporation and the underwriters named therein.
4.1						Indenture, dated as of September 26, 2025, between Alliant Energy Corporation and The Bank of New York Mellon Trust Company, N.A., as trustee.
4.2						First Supplemental Indenture, dated as of September 26, 2025, between Alliant Energy Corporation and The Bank of New York Mellon Trust Company, N.A., as trustee, relating to the 5.750% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2056 (including the form of the Notes).
5.1						Opinion of Perkins Coie LLP.
8.1						Tax Opinion of Perkins Coie LLP.
23.1						Consent of Perkins Coie LLP (contained in Exhibit 5.1 hereto).
23.2						Consent of Perkins Coie LLP (contained in Exhibit 8.1 hereto).
99.1						Press Release of Alliant Energy Corporation, dated September 23, 2025.
104						Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			ALLIANT ENERGY CORPORATION
Date: September 26, 2025			By:			/s/ Robert J. Durian
			Name:			Robert J. Durian
			Title:			Executive Vice President and Chief Financial Officer