Interstate Power and Light Company Prices Debt Offering

BY Business Wire | CORPORATE | 09/18/23 08:18 PM EDT

$300 million in senior debentures will be due in 2033

MADISON, Wis.--(BUSINESS WIRE)-- Interstate Power and Light Company (?IPL?), a wholly owned subsidiary of Alliant Energy Corporation (LNT) , announced the pricing of its public offering of $300 million aggregate principal amount of 5.700% senior debentures. The senior debentures will be due on October 15, 2033. IPL intends to use the net proceeds from this offering to reduce outstanding capital under its receivables purchase and sale program, to reduce commercial paper classified as long-term debt, and/or for general corporate purposes. The closing of the offering is expected to occur on September 21, 2023, subject to the satisfaction of customary closing conditions.

The offering was marketed through a group of underwriters consisting of BofA Securities, Inc., Mizuho Securities USA LLC, MUFG Securities Americas Inc., U.S. Bancorp Investments, Inc., and Wells Fargo Securities, LLC, as joint book-running managers, and Siebert Williams Shank & Co. LLC and TD Securities (USA) LLC as co-managers.

The offering is being made only by means of a prospectus supplement and accompanying prospectus which are part of a shelf registration statement IPL filed with the Securities and Exchange Commission (the ?Commission?). Copies may be obtained by calling BofA Securities, Inc. toll free at 1-800-294-1322, Mizuho Securities USA LLC toll free at 1-866-271-7403, MUFG Securities Americas Inc. toll free at 1-877-649-6848, U.S. Bancorp Investments, Inc. toll free at 1-877-558-2607 or Wells Fargo Securities, LLC toll free at 1-800-645-3751. Electronic copies of these documents will be available from the Commission?s website at

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Alliant Energy (LNT)

Alliant Energy Corporation?s Iowa utility subsidiary, Interstate Power and Light Company (IPL), utilizes the trade name of Alliant Energy (LNT) . The Iowa utility is based in Cedar Rapids, Iowa.

Forward-Looking Statements

This press release includes forward-looking statements. These statements involve inherent risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including risks related to the proposed offering, the anticipated use of proceeds from the sale of the senior debentures and other risks outlined in IPL?s public filings with the Commission, including IPL?s most recent annual report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. All information provided in this news release speaks as of the date hereof. Except as otherwise required by law, IPL undertakes no obligation to update or revise its forward-looking statements.

Source: Alliant Energy Corporation (LNT)

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.