AI English summary of an SEC filing — figures as filed
NiSource NINiSource said it entered into a Terms Agreement on November 3, 2025 with respect to the offering and sale of $1,000,000,000 aggregate principal amount of its 5.750% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2056, and the sale closed on November 7, 2025.
Key points
AI summaryNiSource said it entered into a Terms Agreement on November 3, 2025 with respect to the offering and sale of $1,000,000,000 aggregate principal amount of its 5.750% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2056, and the sale closed on November 7, 2025.
The company said interest on the Notes accrues at 5.750% per annum from and including November 7, 2025 to, but excluding, July 15, 2031, and from and including the First Reset Date, at a rate per annum equal to the Five-year U.S. Treasury Rate plus 2.035%, to be reset on each reset date; provided that the interest rate during any reset period will not reset below 5.750% per annum.
NiSource said the Notes mature on July 15, 2056 and that, so long as no event of default has occurred and is continuing, the company may, at its option, defer interest payments on the Notes for one or more deferral periods of up to 20 consecutive semi-annual interest payment periods each. It added that during any such deferral period, the company will not (with certain exceptions) declare or pay any dividends or distributions on any Capital Stock, including common stock, of the company.
The company 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.
Summary
AI-writtenAnalysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
$1,000,000,000 Junior Subordinated Notes Offering at 5.750%
NiSource said it entered into a Terms Agreement on November 3, 2025 with respect to the offering and sale of $1,000,000,000 aggregate principal amount of its 5.750% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2056, and the sale closed on November 7, 2025.
Source · Based on the filing body and exhibits
Fixed-Rate Period and Reset Rate Structure
The company said interest on the Notes accrues at 5.750% per annum from and including November 7, 2025 to, but excluding, July 15, 2031, and from and including the First Reset Date, at a rate per annum equal to the Five-year U.S. Treasury Rate plus 2.035%, to be reset on each reset date; provided that the interest rate during any reset period will not reset below 5.750% per annum.
Source · Based on the filing body and exhibits
Maturity, Interest Deferral and Dividend Restrictions
NiSource said the Notes mature on July 15, 2056 and that, so long as no event of default has occurred and is continuing, the company may, at its option, defer interest payments on the Notes for one or more deferral periods of up to 20 consecutive semi-annual interest payment periods each. It added that during any such deferral period, the company will not (with certain exceptions) declare or pay any dividends or distributions on any Capital Stock, including common stock, of the company.
Source · Based on the filing body and exhibits
Use of Net Proceeds
The company 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.
Source · Based on the filing body and exhibits
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
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
Loading the filing text…