Black Hills Corp. (BKH) today announced the pricing of a registered public debt offering of $550 million in senior unsecured notes. The debt offering consists of $300 million of 3.950 percent senior notes due 2026, priced at 99.697 percent of their principal amount, and $250 million of 2.500 percent senior notes due 2019, priced at 99.877 percent of their principal amount. Black Hills expects the offering to close on Jan. 13, 2016, subject to customary closing conditions.
The company plans to use net proceeds from the debt offering to partially fund the pending acquisition of SourceGas Holdings LLC, which is expected to close in the first quarter of 2016.
Credit Suisse Securities (USA) LLC, U.S. Bancorp Investments, Inc., Mitsubishi UFJ Securities (USA), Inc. and Scotia Capital (USA) Inc. are serving as joint book-running managers for the offering.
The offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission, and the offering will be made only by means of a prospectus supplement for such offering and an accompanying prospectus. Copies of the prospectus supplement and accompanying prospectus relating to the offering may be obtained by writing or calling the joint book-running managers for the offering as follows: Credit Suisse Securities (USA) LLC at One Madison Avenue, New York, NY 10010-3629, Attn: Prospectus Department, by calling toll free 1-800-221-1037 or by e-mail at email@example.com; from U.S. Bancorp Investments, Inc. by calling toll-free at 1-877-558-2607; from Mitsubishi UFJ Securities (USA), Inc. at 1221 Avenue of the Americas, 6th Floor, New York, NY 10020-1001 or by calling toll free 1-877-649-6848; or from Scotia Capital (USA) Inc. at 250 Vesey Street, New York, NY 10281, or by calling toll free 1-800-372-3930. An electronic copy of the prospectus supplement is available on the website of the Securities and Exchange Commission at www.sec.gov.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in any state or jurisdiction in which it is unlawful to make an offer, solicitation or sale.
Black Hills Corporation
Black Hills Corp. (BKH) is a growth-oriented, vertically-integrated energy company with a tradition of improving life with energy and a vision to be the energy partner of choice. Based in Rapid City, South Dakota, the company serves 792,000 natural gas and electric utility customers in Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. The company also generates wholesale electricity and produces natural gas, oil and coal. Black Hills Corp.`s more than 2,000 employees form partnerships and produce positive results for our customers, communities and shareholders.