Alliant reaches new credit agreement with Wells Fargo, JPMorgan Chase

Alliant Energy and its utility subsidiaries have reached a new five-year credit agreement with several lenders will provide additional liquidity to implement its strategic plan, the company said in a SEC filing Thursday, Dec. 22.

The agreement provides up to $300 million for Alliant Energy, $300 million for Interstate Power and Light, and $400 million for Wisconsin Power and Light. The amounts may be raised by $100 million for each business unit upon satisfaction of certain conditions.

Lending parties include Wells Fargo Bank and JPMorgan Chase Bank.

The new credit agreement replaces previous credit agreements reached in November 2006 that were set to expire in November 2012.

The agreement requires Alliant to maintain a debt-to-capital ratio of less than 65 percent and the two utilities to maintain debt-to-capital ratios of 58 percent.