Teco Energy Unit Closed $550 Million Note Sale; Proceeds Were $543.5 Million (TE)
Wednesday, March 17, 2010 - 06:57
Written on Wed, 03/17/2010 - 6:57am
By Chip Brian

3/17/2010-Teco Energy, Inc. (NYSE:TE) said Wednesday that its Teco Finance unit has closed on the sale of $550 million of its notes in an underwritten public offering.
The offering consists of $250 million of 4.00% notes due 2016 and $300 million of 5.15% notes due 2020.
The 2016 notes were priced at 99.594% of the principal amount to yield 4.077% to maturity, and the 2020 notes were priced at 99.552% of the principal amount to yield 5.208% to maturity.
The offering resulted in net proceeds to the companies of about $543.5 million.

Keywords: teco Energy note sale proceeds

Ticker(s): TE

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