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Ameren offering $450 million in senior notes

By Associated Press
June 12, 2008 | Comments (0)

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Utility company Ameren Corp. said Thursday its subsidiary AmerenUE is offering $450 million in senior notes and will use proceeds to pay debt.

The company is offering 6.7 percent senior secured notes due 2019. The offer will close on June 19.

Ameren said proceeds will be used to repay a portion of about $445.5 million of outstanding short-term debt, including short-term debt temporarily incurred to pay at maturity $148 million principal amount in first mortgage bonds that were due May 1, 2008.

Underwriters for the offering are Barclays Capital Inc., BNY Mellon Capital Markets LLC, and J.P. Morgan Securities Inc.

Shares of Ameren rose 3 cents to $43.25 in after-hours trading after falling 53 cents to close at $43.22.

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