CEDAR RAPIDS, Iowa – March 14, 2013 – Interstate Power and Light Company (IPL), a wholly-owned subsidiary of Alliant Energy Corporation (NYSE:LNT), announced today the pricing of an underwritten public offering of 8.0 million shares of newly issued 5.1% Series D Cumulative Perpetual Preferred Stock (“Preferred Stock”) at a price of $25.00 per share, resulting in gross proceeds of $200 million.
IPL estimates that the net proceeds, after deducting the underwriting discount and before other estimated offering expenses, will be approximately $195 million. IPL intends to apply the net proceeds from this offering to fund the previously-announced redemption of its 8.375% Series B Cumulative Preferred Stock. Remaining net proceeds will be used for working capital and other general corporate purposes.
IPL has applied to list the Preferred Stock on the New York Stock Exchange under the symbol “IPL/PRD.” If the application is approved, trading of the Preferred Stock is expected to commence within 30 days after the initial delivery of the Preferred Stock.
Robert W. Baird & Co. Incorporated, Barclays Capital Inc., J.P. Morgan Securities LLC and Wells Fargo Securities, LLC are joint book-running managers for the offering, and Comerica Securities, Inc., KeyBanc Capital Markets Inc. and Samuel A. Ramirez & Company, Inc. are co-managers for the offering.
An automatic shelf registration statement with respect to this offering became effective upon filing with the Securities and Exchange Commission on December 16, 2011. The offering will be made only by means of a prospectus and prospectus supplement. Copies of these documents may be obtained by contacting: Robert W. Baird & Co. Incorporated, Attn: Syndicate Department, 777 E. Wisconsin Avenue, Milwaukee, WI 53202, telephone: (800) 792-2473, email: syndicate@rwbaird.com; Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (888) 603-5847, email: barclaysprospectus@broadridge.com; J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10179, Attn: Investment Grade Syndicate Desk, 3rd Floor, telephone: (212) 834-4533; or Wells Fargo Securities, LLC, 1525 West W.T. Harris Blvd., NC0675, Charlotte, NC 28262, Attn: Capital Markets Client Support, telephone: (800) 326-5897, email: cmclientsupport@wellsfargo.com. An electronic copy of the prospectus supplement and accompanying prospectus will be available from the Securities and Exchange Commission’s website at www.sec.gov.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Media Contact: Scott Reigstad (608) 458-3145