Alliant Energy Announces Pricing Of Offering Of $500 Mln Of 3.250% Convertible Senior Notes Due 2028

Alliant Energy

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(RTTNews) - Alliant Energy Corp. (LNT) announced the pricing of its offering of $500 million aggregate principal amount of its 3.250% convertible senior notes due 2028 in a private placement.

The company also granted each of the initial purchasers of the convertible notes an option to purchase, within a 13-day period from, and including, the date on which the convertible notes are first issued, up to an additional $75 million aggregate principal amount of the convertible notes. The sale of the convertible notes is expected to close on May 15, 2025.

The company expects that the net proceeds from the convertible notes will be approximately $493.0 million (or $567.0 million if the initial purchasers exercise their option to purchase additional convertible notes in full), after deducting the initial purchasers' discounts and commissions and offering expenses payable by Alliant Energy.

Alliant Energy plans to use the net proceeds from the offering of the convertible notes for the repayment or refinancing of debt, to reduce outstanding commercial paper or for general corporate purposes.

The convertible notes will be senior unsecured obligations of Alliant Energy, and will mature on May 30, 2028, unless earlier converted or repurchased in accordance with their terms. The convertible notes will bear interest at a fixed rate of 3.250% per year, payable semiannually in arrears on May 30 and November 30 of each year, beginning on November 30, 2025.

Prior to the close of business on the business day immediately preceding March 1, 2028, the convertible notes will be convertible at the option of the holders only under certain conditions.

According to the company, the conversion rate for the convertible notes will initially be 13.1773 shares of common stock per $1,000 principal amount of convertible notes (equivalent to an initial conversion price of approximately $75.89 per share of common stock). The initial conversion price of the convertible notes represents a premium of about 27.5% over the last reported sale price of Alliant Energy's common stock on the Nasdaq Global Select Market on May 12, 2025.