debt
confidence high
sentiment neutral
materiality 0.45
WEC Energy Group issues $900M 3.375% convertible senior notes due 2028
WEC ENERGY GROUP, INC.
- $900M aggregate principal, including $125M full exercise of initial purchasers' option.
- 3.375% semiannual interest; matures June 1, 2028; no redemption or sinking fund.
- Initial conversion rate 7.7901 shares/$1,000 (price ~$128.37); up to ~8.59M shares issuable.
- Notes unsecured, senior; structurally subordinated to subsidiary debt; sold via Rule 144A.
item 2.03item 3.02item 9.01