WEC Energy Group Inc. has announced the upsize and pricing of $775 million in 3.375% Convertible Senior Notes due 2028. These senior, unsecured obligations will accrue interest at an annual rate of 3.375%, with payments made semiannually. The notes are set to mature on June 1, 2028, unless converted or repurchased earlier. If a fundamental change occurs, holders may require WEC Energy Group to repurchase the notes at full principal value plus interest. The company cannot redeem these notes before maturity. The proceeds will be used for general corporate purposes, including paying off short-term debt. The offering, initially planned for $700 million, was increased and includes an option for initial purchasers to buy an additional $125 million within 13 days of issuance. The transaction is expected to close on June 10, 2025, pending customary conditions.
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