ALLETE INC: debt financing — ALLETE issues $250M in first mortgage bonds across four series to fund utility capex

ALLETE INC

Issued $50M at 5.37% due 2032, $75M at 5.69% due 2035, $50M at 5.79% due 2037, $75M at 6.34% due 2055.
Interest payable semi-annually starting Jan 15, 2026; make-whole prepayment option with par call near maturity.
Proceeds from the private placement will fund utility capital expenditures.
Bonds sold to institutional accredited investors under Section 4(a)(2) exemption.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

ALLETE INC incurred senior notes of $250 million at 5.37% 5.69% 5.79% 6.34% maturing July 9, 2032 July 9, 2035 July 9, 2037 July 9, 2055.

Instrument: senior notes
Principal: $250 million
Rate: 5.37% 5.69% 5.79% 6.34%
Maturity: July 9, 2032 July 9, 2035 July 9, 2037 July 9, 2055
Event: incurrence

Exact text from the filing

On July 9, 2025, ALLETE, Inc. (ALLETE or Company) issued $250 million of the Company's first mortgage bonds (the "Bonds") to certain institutional buyers in the private placement market. The Bonds were sold in reliance on an exemption from registration under Section 4(a)(2) of the Securities Act of 1933, as amended, to institutional accredited investors. The Bonds were issued in four series as follows: Maturity Date Principal Amount Interest Rate July 9, 2032 $50 million 5.37% July 9, 2035 $75 million 5.69% July 9, 2037 $50 million 5.79% July 9, 2055 $75 million 6.34%

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Source: SEC EDGAR

accession 0000066756-25-000069

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