News Column

The Laclede Group Prices $625 Million Debt Offering

August 30, 2014



By a News Reporter-Staff News Editor at Investment Weekly News -- The Laclede Group, Inc. ("Laclede") (NYSE: LG) announced that it has priced a registered underwritten public offering of an aggregate principal amount of $625 million of debt securities. The offering includes three series of senior unsecured notes: $250 million of Floating Rate Senior Notes due 2017, $125 million of 2.55% Senior Notes due 2019, and $250 million of 4.70% Senior Notes due 2044.

Laclede intends to use the net proceeds from this offering to fund a portion of the cash consideration payable in connection with the pending acquisition of Alabama Gas Corporation. The offering is expected to close on August 19, 2014, subject to customary closing conditions.

Credit Suisse, Wells Fargo Securities and U.S. Bancorp are acting as book-running managers of the offering.

The offering of these securities will be made only by means of the prospectus supplement and accompanying prospectus, copies of which may be obtained from the offices of Credit Suisse at One Madison Avenue, New York, New York 10010-3629, Attn: Prospectus Department, by calling toll free 1-800-221-1037 or by email at newyork.prospectus@credit-suisse.com, or Wells Fargo Securities, LLC at 1525 West W.T. Harris Boulevard, Charlotte, North Carolina 28262, Attn: Capital Markets Client Support, by calling toll free 1-800-326-5897 or by email at cmclientsupport@wellsfargo.com.

A shelf registration statement relating to the securities in this offering has been filed previously with the Securities and Exchange Commission and is effective. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction to any person to whom it is unlawful to make an offer, solicitation or sale in such jurisdiction.

Keywords for this news article include: Banking and Finance, The Laclede Group Inc.

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Source: Investment Weekly News


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