|
 |
|
|
|
|
|
|
|
Issue: 1147 Date: 8/16/2012
Become A Fan, Like St. Louis Chinese American News
|
|
Laclede Group, Laclede Gas to raise $125 million
|
|
|
| 請您關注和惠顧聖路易時報的廣告客戶，並向朋友推薦聖路易時報，感謝您的支持！ |
|
|
|
 |
|
| Suzanne Sitherwood assumed duties as chief executive officer of The Laclede Group, Inc. (NYSE: LG) on February 1, 2012, succeeding Douglas H. Yaeger, who retired on January 31. She has also been elected to the board of directors for a one-year term. Suzanne Sitherwood joined The Laclede Group as president on September 1, 2011. |
|
|
Laclede Gas Co. is raising $100 million through a private placement of bonds, while its holding company, the Laclede Group, is raising $25 million.
The funds will be used for improvements in the company's gas distribution network and information technology system, said Steve Rasche, senior vice president of finance and accounting at the Laclede Group. Laclede Group forecast a $104 million capital spending plan for 2012, including $30 million for distribution, equipment and other projects, and $29 million for IT upgrades, according to its May investor presentation.
"The bottom line is, it's a great deal, and we were able to take advantage of some great rates," Rasche said.
The offerings are as follows, according to a regulatory document filed Monday with the Securities and Exchange Commission:
The Laclede Gas Co. entered into a purchase agreement Aug. 3 for 3 percent bonds issued March 15, 2013, and due March 15, 2023, and 3.4 percent bonds due March 15, 2028, in order to raise $55 million and $45 million, respectively.
The Laclede Group entered into a purchase agreement Aug. 3 for 3.31 percent, 10-year senior notes, which will be issued between Dec. 14 and Dec. 21, 2012, in order to raise $25 million.
Rasche said the Laclede Group retired $25 million in 6.35 percent debt on Oct. 10, 2011, and it has another $25 million in 6.5 percent debt retiring in October 2012.
St. Louis-based Laclede Group Inc., led by President and CEO Suzanne Sitherwood, is a public utility holding company whose regulated utility, Laclede Gas Co., serves about 625,000 residential and commercial customers in St. Louis and parts of eastern Missouri.
The Laclede Group Inc. (NYSE: LG) reported profit of $8.4 million on total operating revenue of $186.8 million in its fiscal third quarter ended June 30. It reported profit of $63.8 million on operating revenue of $1.6 billion in fiscal 2011.
|
|
 |
|
|
|
