MILWAUKEE, Nov. 2 /PRNewswire-FirstCall/ — Wisconsin Electric Power Company, a subsidiary of Wisconsin Energy Corporation (NYSE:WEC) , announced today it has agreed to sell $300 million principal amount of unsecured 5.70% debentures due Dec. 1, 2036. The securities will be issued off an existing shelf registration statement filed with the Securities and Exchange Commission.
The public offering is being underwritten by Morgan Stanley and BNP Paribas as joint book-running managers, and Loop Capital Markets, LLC, The Williams Capital Group, L.P. and M.R. Beal & Company as co-managers. The offering is expected to close Nov. 7, 2006.
Proceeds from the sale will be used to fund the payment at maturity of $200 million of 6-5/8% Debentures due November 15, 2006, and to repay short- term debt.
This announcement is not an offer to sell or a solicitation of an offer to buy these securities. The securities are being offered only by means of a prospectus, which can be obtained by contacting Morgan Stanley & Co. Incorporated, Prospectus Department, 180 Varick Street, New York, NY 10014, or toll-free at 1-866-718-1649 or BNP Paribas Securities Corp. at 1-800-854-5674.
Wisconsin Electric Power Company, a principal utility subsidiary of Wisconsin Energy Corporation (NYSE:WEC) , is now doing business as We Energies. The company serves more than 1.1 million electric customers in Wisconsin and Michigan’s Upper Peninsula and 448,000 natural gas customers in Wisconsin.
