Minnesota Energy Resources Corporation Private Placement of $120 million of Senior Notes

Hunton & Williams LLP advised the purchasers in connection with Minnesota Energy Resources Corporation’s (MERC) issuance of $40 million aggregate principal amount of its Senior Notes due 2027, $40 million aggregate principal amount of its Senior Notes due 2032 and $40 million aggregate principal amount of its Senior Notes due 2047, each in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended.

MERC is a regulated natural gas utility serving approximately 232,700 natural gas customers in Minnesota with an average rate base in 2016 of approximately $239 million.   MERC is a wholly-owned subsidiary of Integrys, which in turn is a wholly-owned subsidiary of WEC Energy Group, Inc., a utility holding company headquartered in Milwaukee, Wisconsin. 

The Hunton & Williams LLP team included Bud Ellis, Adam O’Brian and Patrick Jamieson.