NiSource to sell $250M of debt in public offering - BusinessWeek

MERRILLVILLE, Ind.

Energy company NiSource Inc. said Wednesday its finance subsidiary is selling $250 million of long-term debt securities in a public offering to fund the buyback of other debt.

NiSource Finance Corp. has launched a cash tender offer for up to $250 million in 10.75 percent notes due 2016 and 6.80 percent notes due 2019. The company currently has $600 million worth of 2016 notes and $500 million of 2019 notes outstanding. That offer expires Dec. 29.

Deutsche Bank Securities Inc. and RBS Securities Inc. are the joint book-running managers for the latest debt offering.

Shares of NiSource rose 30 cents to $17.03 in afternoon trading.

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