Alliant Energy pays $402.5M for notes due 2030

Alliant Energy says most of notes 2030 are validly tendered by holders

• On 1:14 pm EDT, Friday October 16, 2009

MADISON, Wis. (AP) -- Utility company Alliant Energy Corp. said Friday it paid $402.5 million for senior notes due 2030 as part of a previously announced cash tender offer.

The company said it received valid tenders and consents from holders of about 5.9 million notes as of the offer's expiration at 5 p.m. EDT Thursday. That's virtually all of the $402.50 million of notes outstanding before the offer.

Alliant previously paid $238.8 million for $402.3 million of notes tendered before the Sept. 28 early tender date. The company said note holders who tendered them after that date and before the expiration date will receive $40 per note plus accrued and unpaid interest. The company said it expects to make those payments Friday.

Alliant said notes outstanding after the tender offer will total $20,325, or about 300 notes.

Alliant is the parent of two utilities, Interstate Power as well as Light and Wisconsin Power and Light, and of Alliant Energy Resources, Alliant Energy's nonregulated business. Alliant Energy serves about 1 million electric and 400,000 natural gas customers.

Shares of Alliant Energy of the company rose 18 cents to $27.74 in afternoon trading.