WEC Energy Group (WEC) shares were up more than 1% in recent trading Thursday, a day after the company said it upsized the cash tender offer for several series of the company's senior debt.
The company said it will accept a total of $400 million of its senior notes, up from the original $350 million target, after nearly $867 million in securities were tendered by the early-tender deadline on Dec. 18.
WEC Energy said it will accept $250 million of its 5.60% senior notes due 2026 and $150 million of its 1.80% senior notes maturing in 2030, representing 58.3% and 65.8% of the notes tendered, respectively.
The offering is scheduled to settle on Monday, with investors slated to receive a $30 premium for each $1,000 in face value of the notes turned over to the company.
Bondholders also tendered almost $208 million of WEC Energy's outstanding 2.20% senior notes, although the company will not accept any of those securities for exchange, WEC Energy said.
Price: 93.97, Change: +1.03, Percent Change: +1.10
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