MERRILLVILLE, Ind., May 22, 2017 /PRNewswire/ -- NiSource Inc. (NYSE: NI) announced today that its finance subsidiary, NiSource Finance Corp., has completed the previously announced sale of $1 billion aggregate principal amount of 3.490% Notes due 2027 and $1 billion aggregate principal amount of 4.375% Notes due 2047 in an underwritten public offering. NiSource will fully and unconditionally guarantee NiSource Finance's obligations under the notes.
NiSource Finance intends to use a portion of the net proceeds from the sale of the notes to fund the purchase price for its previously announced tender offers to purchase up to $1,095 million aggregate principal amount of four series of its outstanding notes and to use the balance to finance capital expenditures and for general corporate purposes.
Barclays Capital Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, MUFG Securities Americas Inc., Citigroup Global Markets Inc. and Wells Fargo Securities, LLC acted as joint book-running managers for the offering.
The tender offers are being made pursuant to an Offer to Purchase, dated May 11, 2017 (the "Offer to Purchase"), which sets forth a comprehensive description of the terms of the offers. NiSource Finance intends to fund the purchase price of the notes accepted in the offers with a portion of the net proceeds from the sale of long-term debt securities in a public offering announced separately today.
NiSource Inc. (NYSE: NI) is one of the largest fully-regulated utility companies in the United States, serving approximately 3.5 million natural gas customers and 500,000 electric customers across seven states through its local Columbia Gas and NIPSCO brands. Based in Merrillville, Indiana, as of December 31, 2016, NiSource had approximately 8,000 employees. NI-F
This press release contains forward-looking statements within the meaning of federal securities laws. Investors and prospective investors should understand that many factors govern whether any forward-looking statement contained herein will be or can be realized. Any one of those factors could cause actual results to differ materially from those projected. Examples of forward-looking statements in this press release include statements and expectations regarding NiSource's business, performance, growth, investment opportunities, and planned, identified, infrastructure or utility investments. All forward-looking statements are based on assumptions that management believes to be reasonable; however, there can be no assurance that actual results will not differ materially. Factors that could cause actual results to differ materially from the
projections, forecasts, estimates, plans, expectations and strategy discussed in this press release include, among other things, NiSource's debt obligations; any changes in NiSource's credit rating; NiSource's ability to execute its growth strategy; changes in general economic, capital and commodity market conditions; pension funding obligations; economic regulation and the impact of regulatory rate reviews; NiSource's ability to obtain expected financial or regulatory outcomes; any damage to NiSource's reputation; compliance with environmental laws and the costs of associated liabilities; fluctuations in demand from residential and commercial customers;
economic conditions of certain industries; the success of NIPSCO's electric generation strategy; the price of energy commodities and related transportation costs; the reliability of customers and suppliers to fulfill their payment and contractual obligations; potential impairments of goodwill or definite-lived intangible assets; changes in taxation and accounting principles; potential incidents and other operating risks associated with our business; the impact of an aging infrastructure; the impact of climate change; potential cyber-attacks; construction risks and natural gas costs and supply risks; extreme weather conditions; the attraction and retention of a qualified work force; advances in technology; the ability of NiSource's subsidiaries to generate cash; uncertainties related to the expected benefits of the separation of Columbia
Pipeline Group, Inc. and other matters set forth in Item 1A, "Risk Factors" section of NiSource's Annual Report on Form 10-K for the fiscal year ended December 31, 2016, as amended, and in other filings with the Securities and Exchange Commission. NiSource expressly disclaims any duty to update, supplement or amend any of its forward-looking statements contained in this press release, whether as a result of new information, subsequent events or otherwise, except as required by applicable law.
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SOURCE NiSource Inc.
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