Black Hills issues $450M of 6.000% notes due 2035 to refinance near-term debt

BLACK HILLS CORP /SD/

Issued $450M principal of 6.000% Notes due January 15, 2035; semi-annual interest starts Jan 2025.
Gross proceeds ~$446.1M after original issue discount and underwriting discounts.
Proceeds used with available cash/short-term borrowings to retire $600M of 1.037% notes due Aug 2024.
Notes are unsecured senior obligations ranking equally with existing unsecured debt.
Underwriting agreement between Black Hills and several underwriters executed May 13, 2024.

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