WISCONSIN ELECTRIC POWER CO (WELPP) Form 424B5 — Aug 19, 2026
Wisconsin Electric Power Company, a subsidiary of WEC Energy Group, filed a preliminary prospectus supplement for a public offering of 5.10% debentures due June 15, 2036. The new debentures reopen the same series as the $400 million of 5.10% debentures issued June 4, 2026, with the offering size and price to be set at pricing. Proceeds will repay short-term debt and fund general corporate purposes. At August 17, 2026, short-term debt stood at $298.8 million at a 3.89% weighted average rate with an average life under 30 days, so the deal effectively terms out commercial paper-style borrowings into ten-year fixed-rate debt.
Key figures
- Interest Rate
- 5.10%
- Maturity Date
- June 15, 2036
- Common equity
- $7,224.6 million (45.3%)
- Preferred stock
- $30.4 million (0.2%)
- Steam customers
- approximately 350
- Offering expenses
- approximately $1 million
- Electric customers
- approximately 1.2 million
- Natural gas customers
- approximately 520,000
- Long term debt cap table
- $5,611.5 million (35.2%)
- Environmental trust bonds
- $72.2 million (WEPCo Environmental Trust Bonds, Series 2021)
- Finance lease obligations
- $2,850.0 million (17.9%)
- Revolving credit facility
- $800 million
- Short term debt cap table
- $216.0 million (1.4%)
- Indenture debt outstanding
- approximately $5.6 billion as of June 30, 2026
- Short term debt aug 17 2026
- $298.8 million (weighted average interest rate 3.89%, average life less than 30 days)
- First mortgage bond capacity
- approximately $13.1 billion permitted under existing terms
- Initial debentures outstanding
- $400,000,000 (5.10% Debentures issued June 4, 2026; new debentures form a single series)
- Total capitalization jun 30 2026
- $15,932.5 million
- Tax credit event redemption price
- 101% of principal plus accrued interest
- Unsecured debt and commercial paper
- approximately $5.9 billion (excluding ~$2.9 billion finance lease obligations)
AI analysis
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