NiSource Inc. - 2011-06-10
Description
The company has reported that its finance subsidiary, NiSource Finance Corp., has completed the sale of $400 million aggregate principal amount of 5.95% notes due 2041 in an underwritten public offering. NiSource will fully and unconditionally guarantee NiSource Finance's obligations under the notes.
NiSource Finance intends to use the net proceeds from the sale of the notes to repay short-term bank borrowings under its revolving credit facility.
Scotia Capital (USA) Inc., U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC acted as joint book-running managers for the offering. Banco Bilbao Vizcaya Argentaria SA, Fifth Third Securities Inc., Mizuho Securities USA Inc. and The Huntington Investment Company acted as co-managers.