01—Abstract
Summary
Summary of the 8-K filed June 24, 2024. Cited figures are marked; the original filing is the authoritative source.
NiSource Inc. disclosed in this Form 8-K that it sold $600 milliona aggregate principal amount of its 5.200% Notes due 2029.
The sale was made under a Terms Agreement dated June 17, 2024, with Barclays Capital Inc., BNP Paribas Securities Corp., KeyBanc Capital Markets Inc., MUFG Securities Americas Inc. and Scotia Capital (USA) Inc. acting as representatives of the underwriters, and the sale closed on June 24, 2024. The Notes were issued under the company's Registration Statement on Form S-3 (File No. 333-268084) and an Indenture dated November 14, 2000, with The Bank of New York Mellon as successor trustee. The company stated that it intends to use the net proceeds for general corporate purposes, including financing capital expenditures, working capital, and repaying existing indebtedness.
The filing is a debt financing disclosure and does not report operating results, earnings or changes in guidance. The filing also includes a legal opinion from McGuireWoods LLP (Exhibit 5.1) and the form of Notes (Exhibit 4.1), and it incorporates forward-looking statement cautions tied to the company's 2023 Form 10-K and subsequent SEC filings.
02—Key points
Key Highlights
- NiSource sold $600 million aggregate principal amount of 5.200% Notes due 2029 under a Terms Agreement dated June 17, 2024.
- The sale closed on June 24, 2024.
- Underwriter representatives were Barclays Capital Inc., BNP Paribas Securities Corp., KeyBanc Capital Markets Inc., MUFG Securities Americas Inc. and Scotia Capital (USA) Inc.
- The Notes were issued under Registration Statement on Form S-3 (File No. 333-268084) and an Indenture dated November 14, 2000, with The Bank of New York Mellon as successor trustee.
- Net proceeds are intended for general corporate purposes, including financing capital expenditures, working capital, and repaying existing indebtedness.
- Exhibits include the form of Notes (4.1), a McGuireWoods LLP legal opinion (5.1), and the related consent (23.1).
03—Questions
Frequently Asked Questions
How much debt did NiSource issue and at what interest rate?
NiSource sold $600,000,000 aggregate principal amount of its 5.200% Notes due 2029.
When was the offering completed?
The sale of the Notes closed on June 24, 2024. The Terms Agreement with the underwriter representatives was entered into on June 17, 2024.
What will NiSource do with the proceeds?
The company intends to use the net proceeds for general corporate purposes, including to finance capital expenditures, for working capital and to repay existing indebtedness.
Under what registration and governing documents were the Notes issued?
The Notes were offered under the company's Registration Statement on Form S-3 (File No. 333-268084) and were issued under an Indenture dated November 14, 2000, between the company, as issuer and successor-in-interest to NiSource Finance Corp., and The Bank of New York Mellon, as successor trustee, as amended and supplemented.
Who were the underwriter representatives for the offering?
Barclays Capital Inc., BNP Paribas Securities Corp., KeyBanc Capital Markets Inc., MUFG Securities Americas Inc. and Scotia Capital (USA) Inc. acted as representatives of the underwriters under the Terms Agreement.
04—Continue