The company said it entered into a Terms Agreement with underwriters on September 3, 2024 for 6.375% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2055 with aggregate principal of $500,000,000, and that the sale closed on September 9, 2024.

1. 01

   The company said it entered into a Terms Agreement with underwriters on September 3, 2024 for 6.375% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2055 with aggregate principal of $500,000,000, and that the sale closed on September 9, 2024.

2. 02

   NiSource said the Notes carry a fixed rate of 6.375% per year from and including September 9, 2024 to, but excluding, March 31, 2035. After that, the rate resets each reset period to the Five-year U.S. Treasury Rate plus a spread of 2.527% per year. The Notes mature on March 31, 2055.

3. 03

   NiSource said that, as long as no event of default has occurred and is continuing, it may defer interest payments on the Notes for one or more deferral periods of up to 20 consecutive semi-annual interest payment periods each. The company said that during any deferral period it will not declare or pay dividends or distributions on its Capital Stock, including common stock.

4. 04

   NiSource said it intends to use the net proceeds from the sale of the Notes for general corporate purposes, including to finance capital expenditures, for working capital and to repay existing indebtedness.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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