ST. LOUIS, Feb. 22, 2017 /PRNewswire/ -- Spire Inc. (NYSE:
SR) announced today that it has commenced a registered underwritten
public offering (the "Offering") of an aggregate principal amount
of $150 million of its senior notes
due 2024 (the "2024 Notes"), of which $6.25
million are being offered by Spire and $143.75 million are being offered by certain
selling securityholders. Spire is concurrently remarketing
$143.75 million principal amount of
its 2014 Series A 2.00 percent remarketable junior subordinated
notes due 2022, which were originally issued as part of an offering
of corporate units in June 2014.
Spire intends to use the net proceeds from its sale of the
$6.25 million of 2024 Notes to repay
short-term debt. Spire will not receive any proceeds from the sale
of the 2024 Notes by the selling securityholders.
Credit Suisse and Wells Fargo Securities are acting as
book-running managers of the Offering.
The Offering will be made only by means of a prospectus
supplement and accompanying prospectus, copies of which may be
obtained from:
Credit Suisse Securities (USA)
LLC
One Madison Avenue
New York, NY 10010-3629
Attn: Credit Suisse Prospectus Department
800-221-1037
newyork.prospectus@credit-suisse.com
or
Wells Fargo Securities, LLC
608 2nd Avenue South, Suite 1000
Minneapolis, MN 55402
Attn: WFS Customer Service
800-645-3751
wfscustomerservice@wellsfargo.com
A shelf registration statement relating to the securities in the
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.
About Spire
At Spire Inc. (NYSE: SR) we believe energy exists to help make
people's lives better. It's a simple idea, but one that's at the
heart of our company. Every day we serve 1.7 million customers,
making us the fifth-largest publicly traded natural gas company in
the country. We help families and business owners fuel their daily
lives through our gas utilities—Alagasco, Laclede Gas, Missouri Gas
Energy, Mobile Gas and Willmut Gas. Our non-utility operations
include Spire Marketing, which provides natural gas marketing and
related services. We are committed to transforming our business and
pursuing growth by 1) growing our gas utility business through
prudent infrastructure upgrades and organic growth initiatives, 2)
acquiring and integrating gas utilities, 3) modernizing our gas
assets and 4) investing in innovation.
Forward-Looking and Cautionary Statements
This news release contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended. Spire's future operating results may be affected by
various uncertainties and risk factors, many of which are beyond
the Company's control, including weather conditions, economic
factors, the competitive environment, governmental and regulatory
policy and action, and risks associated with acquisitions. For a
more complete description of these uncertainties and risk factors,
see the Company's Annual Report on Form 10-K for the fiscal year
ended September 30, 2016 and the
Company's Quarterly Report on Form 10-Q for the quarter ended
December 31, 2016, each as filed with
the Securities and Exchange Commission.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/spire-announces-launch-of-150-million-debt-offering-300411596.html
SOURCE Spire Inc.