US utility NiSource has raised $350m through a green bond issuance to finance the acquisition of wind farms in Indiana.
NiSource intends to disburse an amount equal to the net proceeds of the notes to finance, in whole or in part, the acquisition of its 302MW Indiana Crossroads and 102MW Rosewater projects from the unnamed developer.
It said the 30-year senior, unsecured notes were priced at 99.614% of the aggregate principal amount, with a coupon rate of 5.00%.
The notes will accrue interest payable semi-annually in arrears on 15 June and 15 December of each year, beginning in December this year.
NiSource added that it remains on track to retire all coal-fired generation by 2026-2028, with plans to make capital investments totalling approximately $10bn during the 2021-2024 period.
Capital investments for renewable projects of approximately $2.0bn are expected, primarily between 2022 and 2024, with any remainder expected in 2025.
NiSource intends to reduce scope one greenhouse gas emissions 90% versus 2005 levels by 2030.