Akin Gump Advises Laclede Group on $625 Million Senior Note Offering

(New York) – Akin Gump advised The Laclede Group, Inc. on the closing of a $625 million senior note offering. Laclede issued and sold $250 million aggregate principal amount of its floating rate senior notes due 2017, $125 million aggregate principal amount of its 2.55 percent senior notes due 2019 and $250 million aggregate principal amount of its 4.70 percent senior notes due 2044 in an underwritten public offering.

Laclede intends to use the net proceeds from the offering, together with the proceeds from an earlier June common stock and equity units offering, other cash on hand and, as appropriate, short-term borrowings, to fund the cash consideration payable in connection with its pending acquisition of Alabama Gas Corporation from Energen Corporation. Akin Gump is also advising Laclede on the acquisition, as noted in this earlier news release, and advised Laclede on the June equity raise.

Lucas Torres, a partner in Akin Gump’s corporate practice, led the deal team representing Laclede. Also working on the matter were corporate counsel Sean Gurgle and Jeremy Smith and corporate associates John Clayton and Erika Leon; energy regulation, markets and enforcement partner Chip Cannon and associate Scott Johnson; and tax senior counsel Chris Harvey.

Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 850 attorneys in offices throughout the United States, Europe, Asia and the Middle East.

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