Spire Inc. Completes Series of Transactions Related to Remarketing of $143.75 Million of Junior Subordinated Notes

February 27, 2017

Spire Inc., a public utility holding company based in St. Louis, Missouri, completed a series of transactions related to its remarketing of $143.75 million principal amount of its 2.00% junior subordinated notes due 2022, originally issued in 2014 as a component of Spire Inc.'s equity units. A group of six banks purchased the junior subordinated notes and immediately exchanged them with Spire Inc. for $143.75 million principal amount of its 3.543% senior notes due 2024 and a cash payment. These banks publicly offered the exchanged senior notes and an additional $6.25 million of newly issued senior notes in a registered offering in which they acted as underwriters, also completed on February 27. S&C acted as special products counsel to the bank group.

The S&C team was led by Robert Buckholz, along with Richard Kahn and Alexander Metz. David Hariton advised on tax matters.