JWCA advises Alliant Energy Corporation on its inaugural $575 million convertible issuance

FEBRUARY 2023 | read press release

Transaction Background

Alliant Energy Corporation (“Alliant” or the “Company”) successfully raised $575mm (inclusive of greenshoe) in the convertible market at attractive terms

Alliant’s objectives included:

• Take advantage of strong convertible investor appetite for investment grade companies

• Raise capital for the funding of working capital, operating expenses, capital expenditures and repayment of indebtedness

Alliant engaged J. Wood Capital Advisors to assist in the structuring, negotiation, documentation and execution of the transaction

JWCA provided extensive analysis on deal structuring and related items, including:

• Convertible structuring

• Evaluating alternative financing sources

• EPS and accounting impact

• Dividend analysis

• Shareholder messaging

• Syndicate structure and precedent data

JWCA provided advice, support and analysis throughout the execution process

Results

Alliant’s convertible issuance was well-received by investors

• The transaction was multiple times oversubscribed

• Alliant’s stock price only traded down ~2%, on a day where comparable energy companies traded down ~1%

• JWCA supported the management team on the entire day of the offering providing execution advice and ensuring a high-quality execution