WEC Energy Group said it priced the upsized offering of $775,000,000 aggregate principal amount of its 3.375% Convertible Senior Notes due 2028 on June 5, 2025. The notes are a private offering to qualified institutional buyers under Rule 144A, and the offering was increased from the previously announced $700,000,000.

1. 01

   WEC Energy Group said it priced the upsized offering of $775,000,000 aggregate principal amount of its 3.375% Convertible Senior Notes due 2028 on June 5, 2025. The notes are a private offering to qualified institutional buyers under Rule 144A, and the offering was increased from the previously announced $700,000,000.

2. 02

   The company said it granted the initial purchasers an option to buy up to an additional $125,000,000 aggregate principal amount of the notes within a 13-day period beginning on, and including, the date the notes are first issued. It also said the offering is expected to close on June 10, 2025, subject to customary closing conditions.

3. 03

   WEC Energy Group said the conversion rate will start at 7.7901 shares of common stock per $1,000 principal amount of notes, for an initial conversion price of about $128.37 per share. That represents a conversion premium of about 22.5% above the last reported sale price of its common stock on June 5, 2025. Upon conversion, the company will pay cash up to the principal amount being converted and, at its election, pay or deliver cash, common stock, or a combination of both for any excess.

4. 04

   The company said the notes will be senior, unsecured obligations that pay interest semiannually at 3.375% per year and mature on June 1, 2028. It also said it intends to use the net proceeds for general corporate purposes, including repaying short-term debt.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

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.