Alliant Energy Corporation
03/04/2026 | Press release | Distributed by Public on 03/04/2026 05:02
Material Agreement, Financial Obligation (Form 8-K)
Item 1.01 Entry into a Material Definitive Agreement.
On March 2, 2026, Alliant Energy Corporation (the "Company") entered into a term loan credit agreement (the "Credit Agreement") among the Company, U.S. Bank National Association, as Administrative Agent, and the several lenders party thereto. The Credit Agreement provides for a $400 million term loan facility. The Credit Agreement also provides for an incremental term loan facility of up to $100 million. No lender has any obligation to provide incremental term loans.
The Company may use borrowings under the credit facility for general corporate purposes including working capital, interim funding of capital expenditures and refinancing of other indebtedness. The credit facility matures on March 1, 2027.
The Credit Agreement contains various covenants, including a requirement that the Company maintains a debt-to-capital ratio of not greater than 65% on a consolidated basis. The debt component of the debt-to-capital ratio includes, among others, long- and short-term debt (excluding non-recourse debt of any subsidiary of the Company and hybrid securities to the extent the total book value of such hybrid securities does not exceed 15% of consolidated capital of the Company and operating lease obligations). The equity component of the debt-to-capital ratio excludes accumulated other comprehensive income (loss).
The Credit Agreement contains a covenant that prohibits placing liens on any of the property of the Company or its subsidiaries with certain exceptions. Exceptions include among others, liens to secure obligations of up to 10% of the consolidated tangible assets of the Company and its subsidiaries (valued at book value), liens imposed by government entities, materialmen's and similar liens, judgment liens, liens to secure additional non-recourse debt not to exceed $100 million outstanding at any one time, and purchase money liens.
The Credit Agreement contains customary events of default, including a cross-default provision whereby the Company would be in default under the Credit Agreement if the Company or certain of its subsidiaries defaults on debt (other than nonrecourse debt) totaling $100 million or more. If an event of default under the Credit Agreement occurs and is continuing, then the lenders may declare any outstanding obligations of the Company under the Credit Agreement immediately due and payable. In addition, if any order for relief is entered under bankruptcy laws with respect to the Company then any outstanding obligations of the Company under the Credit Agreement would be immediately due and payable.
The description of the Credit Agreement set forth above is not complete and is qualified in its entirety by reference to the Credit Agreement filed herewith as Exhibit 10.1, which is incorporated by reference herein.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information included or incorporated by reference in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03 of this Current Report on Form 8-K.
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