WEC Energy Prices $750M 4.375% Convertible Senior Notes Due 2027 And $750M 4.375% Convertible Senior Notes Due 2029
Portfolio Pulse from Benzinga Newsdesk
WEC Energy Group has priced $750 million of 4.375% Convertible Senior Notes due 2027 and $750 million of 4.375% Convertible Senior Notes due 2029. The initial purchasers have an option to buy an additional $112.5 million of each note. The offering is expected to close on May 28, 2024, subject to customary conditions.
May 23, 2024 | 5:28 am
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WEC Energy Group has announced the pricing of $750 million of 4.375% Convertible Senior Notes due 2027 and $750 million of 4.375% Convertible Senior Notes due 2029. The offering is expected to close on May 28, 2024, subject to customary conditions.
The issuance of convertible notes can provide WEC Energy Group with significant capital, which can be used for various corporate purposes. The fixed interest rate and the option for conversion can be attractive to investors, potentially leading to a positive short-term impact on WEC's stock price.
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