Ameren Missouri, a subsidiary of Ameren Corporation, priced a $900 million first‑mortgage bond offering on February 23, 2026. The issuance consists of two equal tranches: $450 million of 4.80% bonds due 2036 priced at 99.926% of par, and $450 million of 5.55% bonds due 2056 priced at 99.619% of par. Barclays Capital, BofA Securities, Mizuho Securities, MUFG Securities, and Wells Fargo Securities served as joint book‑running managers, and the transaction is expected to close on February 27, 2026, subject to customary closing conditions.
The net proceeds will be used to refinance short‑term debt and to fund near‑term capital expenditures. This financing supports Ameren Missouri’s ongoing infrastructure investment plan, which includes grid modernization, new generation facilities, and projects that enable the state to attract large industrial customers such as data centers. By moving debt to longer maturities at attractive rates, the company improves balance‑sheet flexibility and reduces interest expense volatility.
Ameren Missouri’s $26.3 billion five‑year capital‑expenditure plan (2025‑2029) focuses on grid upgrades, renewable‑energy expansion, and new generation capacity. The bond issuance aligns with that plan, providing the capital needed for projects like the Split Rail Solar Project and the Castle Bluff Natural Gas Project. The company also emphasizes a clean‑energy transition, targeting net‑zero carbon emissions by 2050, and benefits from regulatory support such as Missouri Senate Bill 4, which facilitates large‑load industrial investment without burdening residential ratepayers.
The long‑term debt at 4.80% and 5.55% represents a favorable cost of capital compared to the company’s existing short‑term obligations. By extending maturities, Ameren Missouri can lock in lower rates, reduce refinancing risk, and maintain regulatory compliance with the Missouri Public Service Commission. The financing also positions the company to capitalize on economic growth in Missouri, supporting the state’s “Powering Missouri Growth Plan” and “Smart Energy Plan.”
No market reaction data were identified in the fact‑check report, indicating that the bond issuance is viewed as a routine financing activity within the utility sector.
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