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Alliant Energy Arm to Issue $350M Debentures for Refinancing

Zacks Equity Research

Alliant Energy Corporation LNT announced that its subsidiary Wisconsin Power and Light Company has priced a public offering of $350 million aggregate principal amount of 3% debentures. The debentures will be due on Jul 1, 2029.

Wisconsin Power and Light will utilize the net proceeds to reduce commercial paper and refinance the $250 million aggregate principal amount of its 5% debentures maturing in July 2019.
The offering, which is scheduled to close on Jun 24, 2019, will allow the company to keep the funds invested in business for a longer period of time at lower capital costs, which will definitely boost margins.

Long-Term Plans
Alliant Energy has plans to invest $5.3 billion over the next four years, in a bid to strengthen electric and natural gas distribution, and generation portfolio. The company is successfully completing major construction projects on time and at or below budget.

Customer focused investment will further expand rate base of the company and constructive regulatory environment will enable it to recover capital expenditures. Alliant Energy has plans to invest nearly $6 billion in different projects in the 2023-2027 time frame.

The company is committed to add clean power sources to its generation portfolio. Long-term plan of the company is to remove coal from its generation mix and lower carbon-di-oxide emissions by 80% in 2050 from 2005 levels.

Focus on Renewables

Despite the new administration’s initiatives to increase usage of coal in power generation in the United States, the current trend shows that coal is gradually losing ground as natural gas and renewables are gaining popularity as fuel sources with each passing day.

A report from the U.S. Energy Information Administration indicates that renewables contribution to total electricity generation will be 18% in 2019 and increase to 20% in 2019. Increasing investment in renewable assets by utilities like NextEra Energy NEE, Xcel Energy Inc. XEL and Dominion Energy D, among others, will continue to increase the contribution of renewables to total electricity production.

Zacks Rank & Price Movement

In the past 12 months, shares of Alliant Energy have gained 20.7% compared with the  industry’s 18.4% rally.



Aliant Energy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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