Gibson Dunn Advises Underwriters in IPL’s $600M Deal.
Gibson, Dunn & Crutcher LLP has advised the underwriters in the public offering by Interstate Power and Light Company (IPL) of $600 million aggregate principal amount of 5.600% senior debentures due 2035.
The offering priced in May 2025, with the debentures scheduled to mature on June 29, 2035.
The underwriting group was led by BofA Securities, Inc., Mizuho Securities USA LLC, MUFG Securities Americas Inc., and Wells Fargo Securities, LLC.
IPL, a public utility and wholly owned subsidiary of Alliant Energy Corporation (NASDAQ: LNT), intends to use the net proceeds to retire $50 million of 5.50% senior debentures maturing on July 15, 2025, and $250 million of 3.40% senior debentures maturing on August 15, 2025, in each case at or prior to maturity.
Additional proceeds will be used to reduce outstanding capital under IPL’s receivables purchase and sale program, repay commercial paper, and for general corporate purposes.
The Gibson Dunn team advising the underwriters was led by partner Andrew Fabens and of counsel Rodrigo Surcan, and included associates Lawrence Lee, Ian Mathenge, and Stephen Huie.
Regulatory advice was provided by partner William Hollaway and senior counsel Janine Durand. Environmental matters were handled by partner Rachel Levick and associate Taylor Amato, while tax matters were advised on by partner Lorna Wilson.
Alliant Energy Corporation is a Midwest-based public utility holding company providing regulated electricity and natural gas services to nearly one million customers. Headquartered in Madison, Wisconsin, Alliant Energy operates primarily through its two utility subsidiaries: Interstate Power and Light Company (IPL) in Iowa and Wisconsin Power and Light Company (WPL) in Wisconsin. IPL delivers electric and gas service to customers across Iowa and supports Alliant Energy’s broader strategy focused on clean energy, grid modernization, and sustainability.
Gibson, Dunn & Crutcher LLP is a prominent global law firm headquartered in Los Angeles, California. With a reputation for providing exceptional legal services to clients across various industries, the firm was founded in 1890 and operates more than 20 offices worldwide. Gibson Dunn offers expertise in areas such as corporate law, litigation, real estate, and regulatory matters. Known for its commitment to excellence, the firm represents multinational corporations, governments, and individuals, delivering innovative solutions to complex legal challenges. The firm is recognised for its strong focus on client relationships and its deep industry knowledge.
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