Deal Details
Preferred Stock Offering
Summary
Baird served as a joint book-running manager on this offering
About
Interstate Power and Light Company (“IPL”), a subsidiary of Alliant Energy Corporation (NYSE: LNT) (“Alliant”), recently completed an offering of 8,000,000 shares of its 5.1% Series D Cumulative Perpetual Preferred Stock at a price of $25.00 per share, generating gross proceeds of $200 million. IPL plans to use the net proceeds from the offering to redeem IPL’s existing 8.375% Series B Cumulative Preferred Stock, to fund capital expenditures and for other general corporate purposes.IPL operates as a regulated utility company in Iowa and Southern Minnesota. IPL engages in the generation and distribution of electricity and the distribution and transportation of natural gas, as well as the generation and distribution of steam. IPL is headquartered in Cedar Rapids, Iowa.
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- Date
- March 2013
- Company
- Interstate Power and Light Company
- Transaction
- M&A
- Sectors
- Energy
- Target Geography
- North America
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