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Alliant Energy 8-K Report, Corporate Update (Sep 6, 2024)

Reports
Other Events·Exhibits & Filings
Filing Date
Filed September 6, 2024
Period End
September 4, 2024
Security
LNT
In the record · 2016–202610-K1110-Q338-K136

LNT filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 136 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Dec ’18Dec ’18
  2. Leadership change8-K · Jan ’21Jan ’21
  3. Leadership change8-K · Jan ’23Jan ’23
  4. Material agreement8-K · Oct ’26Oct ’26

01—Abstract

Summary

Summary of the 8-K filed September 6, 2024. Cited figures are marked; the original filing is the authoritative source.

Interstate Power and Light Company (IPL), a wholly owned subsidiary of Alliant Energy Corporation (NASDAQ: LNT), entered into an Underwriting Agreement on September 4, 2024 to sell two series of senior debentures in a public offering: $350 milliona of 4.950% Senior Debentures due 2034 and $300 million of 5.450% Senior Debentures due 2054.

The securities are issued under an 2003 indenture with The Bank of New York Mellon Trust Company, N.A., as successor trustee, and are registered under an automatic shelf registration statement on Form S-3 that IPL filed on December 15, 2023. The offering was priced on September 5, 2024, and closing is expected on September 6, 2024, subject to customary closing conditions. IPL states that it intends to use the net proceeds to retire its $500 millionb aggregate principal amount of 3.25% senior debentures maturing on December 1, 2024, at or prior to maturity, and for general corporate purposes.

For investors, the filing is primarily a financing event: it refinances a maturing debt issue and extends IPL's long-term debt maturities out to 2034 and 2054. The filing itself does not describe the company's operating or financial results.

This Form 8-K was filed to add exhibits to IPL's registration statement, including the Underwriting Agreement, the Officer's Certificate establishing the debentures, and legal opinions from Perkins Coie LLP and Simmons Perrine Moyer Bergman PLC on the legality of the securities and on Iowa law matters. The filing also references a September 5, 2024 press release announcing the pricing.

02—Key points

Key Highlights

  1. IPL priced $350 million of 4.950% Senior Debentures due September 30, 2034, and $300 million of 5.450% Senior Debentures due September 30, 2054.
  2. Underwriting Agreement dated September 4, 2024, with Barclays Capital Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, and MUFG Securities Americas Inc. as representatives of the underwriters.
  3. Net proceeds are intended to retire IPL's $500 million 3.25% senior debentures maturing December 1, 2024, at or prior to maturity, and for general corporate purposes.
  4. The offering is registered under an automatic shelf registration statement on Form S-3 (Registration No. 333-276062-01) filed December 15, 2023, supplemented by a prospectus supplement filed September 5, 2024.
  5. Closing is expected on September 6, 2024, subject to customary closing conditions.
  6. The debentures are issued under an Indenture dated August 20, 2003, with The Bank of New York Mellon Trust Company, N.A., as successor trustee, pursuant to an Officer's Certificate dated September 6, 2024.
  7. Legal opinions were issued by Perkins Coie LLP (on legality) and Simmons Perrine Moyer Bergman PLC (on Iowa law matters), both dated September 6, 2024.

03—Questions

Frequently Asked Questions

  1. What securities is Interstate Power and Light Company selling?

    IPL agreed to sell $350 million aggregate principal amount of 4.950% Senior Debentures due 2034 and $300 million aggregate principal amount of 5.450% Senior Debentures due 2054 in a public offering.

  2. What will the proceeds be used for?

    IPL intends to use the net proceeds to retire its $500 million aggregate principal amount of 3.25% senior debentures maturing on December 1, 2024, at or prior to maturity, and for general corporate purposes.

  3. When is the offering expected to close?

    The closing is expected to occur on September 6, 2024, subject to the satisfaction of customary closing conditions.

  4. Who are the underwriters and how is the offering registered?

    Barclays Capital Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, and MUFG Securities Americas Inc. are the representatives of the underwriters, and Academy Securities, Inc., Comerica Securities, Inc., KeyBanc Capital Markets Inc., and U.S. Bancorp Investments, Inc. are co-managers. The debentures are registered under an automatic shelf registration statement on Form S-3 that IPL filed on December 15, 2023, and supplemented with a prospectus supplement filed September 5, 2024.

  5. Who is the parent company of the issuer?

    Interstate Power and Light Company is a wholly owned subsidiary of Alliant Energy Corporation (NASDAQ: LNT), which is named as a co-registrant on this Form 8-K.

04—Continue

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