Published by Todd Bush on June 13, 2022
MERRILLVILLE, Ind., June 10, 2022 /PRNewswire/ -- NiSource Inc. (NYSE: NI) ("NiSource") closed today on its first-ever Green Bond issuance, raising $350 million that will be used to finance the acquisition of eligible renewable energy projects located in Indiana. The 30-year senior, unsecured notes priced at 99.614% of the aggregate principal amount, with a coupon rate of 5.00%. The notes will accrue interest payable semi-annually in arrears on June 15 and December 15 of each year, beginning December 15, 2022.
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NiSource intends to disburse an amount equal to the net proceeds of the notes to finance, in whole or in part, the acquisition of its 302-megawatt Indiana Crossroads Wind project and 102-megawatt Rosewater Wind project from the project developer.
The company remains on track to retire all coal-fired generation by 2026-2028, with plans to make capital investments totaling approximately $10 billion during the 2021-2024 period. Capital investments for renewable projects of approximately $2.0 billion are expected, primarily between 2022 and 2024, with any remainder expected in 2025. In total, capital investments are expected to drive compound annual rate base growth of 10 to 12 percent for each of the company's businesses through 2024. By 2030, NiSource intends to reduce scope one greenhouse gas emissions 90% versus 2005 levels.
NiSource Inc. (NYSE: NI) is one of the largest fully-regulated utility companies in the United States, serving approximately 3.2 million natural gas customers and 500,000 electric customers across six states through its local Columbia Gas and NIPSCO brands. Based in Merrillville, Indiana, NiSource's approximately 7,500 employees are focused on safely delivering reliable and affordable energy to our customers and communities we serve. NiSource is a member of the Dow Jones Sustainability - North America Index. Additional information about NiSource, its investments in modern infrastructure and systems, its commitments, and its local brands can be found at www.nisource.com. Follow us at www.facebook.com/nisource, www.linkedin.com/company/nisource or www.twitter.com/nisourceinc. NI-F
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