WEC Energy Group prices $1.5B in convertible notes at 4.375% in two tranches due 2027 and 2029

WEC ENERGY GROUP, INC.

Priced $750M of 4.375% convertible senior notes due 2027 and $750M due 2029; overallotment option up to $112.5M each.
Conversion rate initially 10.1243 shares per $1,000 principal, premium ~20% above May 22 closing price of ~$82.31.
Interest paid semiannually at 4.375%; notes are senior unsecured obligations; closing expected May 28, 2024.
Net proceeds to be used for general corporate purposes, including repayment of short-term debt.

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