NiSource issues $1B in 5.750% junior subordinated notes due 2056

NISOURCE INC.

Aggregate principal $1B; notes bear 5.750% fixed through July 15, 2031, then reset at 5-yr Treasury + 2.035% with 5.750% floor.
Interest payable semi-annually; notes mature July 15, 2056; optional redemption by company during specified periods or upon rating/tax events.
Proceeds for general corporate purposes, including capex, working capital, and repayment of existing indebtedness.
Company may defer interest for up to 20 consecutive semiannual periods if no event of default, with restrictions on dividends and stock repurchases.

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