Executive Brief

  • Ameren Illinois Company issued an additional $350 million of 5.625% First Mortgage Bonds due 2055 on September 26, 2025, expanding a prior issuance from March 3, 2025 (Item 8.01).
  • The bonds were offered under an effective Form S-3 registration statement (File No. 333-274977-01) and a Prospectus Supplement dated September 15, 2025 (Item 8.01).
  • Net proceeds from the offering were approximately $358.1 million before expenses (Item 8.01).
  • Underwriting was led by KeyBanc Capital Markets Inc., TD Securities (USA) LLC, and U.S. Bancorp Investments, Inc. (Exhibit 1.1).
  • The bonds are secured under the General Mortgage Indenture dated November 1, 1992, and a Supplemental Indenture dated February 1, 2025 (Item 9.01, Exhibits 4.1 and 4.2).
  • Legal opinions on the bonds’ legality were provided by Ameren Illinois’ Interim General Counsel and Morgan, Lewis & Bockius LLP (Item 9.01, Exhibits 5.1 and 5.2).
  • This filing is new information reporting the bond issuance and related documents; no prior public disclosure of this specific tranche was noted.
  • No financial guidance, impairments, or governance changes were disclosed.
  • Key risk to monitor: interest rate exposure and debt maturity profile impact from this long-dated bond issuance.
  • Next steps: no explicit closing conditions or future filings mentioned beyond this report.

Item-by-Item Analysis

Item 8.01 – Other Events

  • What happened: Ameren Illinois sold $350 million principal amount of 5.625% First Mortgage Bonds due 2055 on September 26, 2025, as a further issuance of bonds originally issued March 3, 2025.
  • Parties/terms: Bonds bear 5.625% interest, mature in 2055, offered under Form S-3 (File No. 333-274977-01) effective October 13, 2023, with a Prospectus Supplement dated September 15, 2025.
  • Proceeds: Net offering proceeds approximately $358.1 million before expenses.
  • Source: (Item 8.01, entire paragraph).

Item 9.01 – Financial Statements and Exhibits

  • Exhibits filed include:
    • 1.1 Underwriting Agreement dated September 15, 2025, with KeyBanc Capital Markets Inc., TD Securities (USA) LLC, and U.S. Bancorp Investments, Inc. as representatives.
    • 4.1 General Mortgage Indenture and Deed of Trust dated November 1, 1992 (incorporated by reference).
    • 4.2 Supplemental Indenture dated February 1, 2025 (incorporated by reference).
    • 5.1 Legal opinion by Ameren Illinois’ Interim General Counsel.
    • 5.2 Legal opinion by Morgan, Lewis & Bockius LLP.
    • 104 Cover Page Interactive Data File (Inline XBRL).
  • Source: (Item 9.01, Exhibits 1.1, 4.1, 4.2, 5.1, 5.2, 104).

Exhibits Summary

  • Exhibit 1.1: Underwriting Agreement details parties involved and confirms the bond offering terms.
  • Exhibits 4.1 and 4.2: Indentures securing the bonds, defining trustee and security interests.
  • Exhibits 5.1 and 5.2: Legal opinions confirming the legality and validity of the bonds.
  • No new financial statements or pro forma financials included.

Financial & Dilution Impact

  • Debt increased by $350 million principal amount.
  • Interest rate fixed at 5.625%, maturity in 2055, extending long-term debt profile.
  • Net proceeds of approximately $358.1 million increase liquidity or fund capital needs.
  • No equity dilution or share issuance reported.

Timeline & Required Actions

  • Bond issuance closed on September 26, 2025.
  • Registration statement effective since October 13, 2023.
  • No additional approvals or conditions disclosed.
  • No upcoming deadlines or shareholder votes mentioned.

Risks & Monitoring

  • Interest rate risk due to fixed 5.625% coupon on long maturity.
  • Debt service obligations increase leverage; monitor covenant compliance under indentures.
  • No mention of material adverse change (MAC) clauses or termination rights in this filing.
  • No restatement or liquidity concerns disclosed.

Metadata & Quality Checks

  • No OCR or formatting issues detected.
  • Non-GAAP financial measures: None referenced.
  • Forward-looking statements: None explicitly stated.
  • Related-party transactions: None disclosed.

Final Checklist

  • Items disclosed: 8.01, 9.01.
  • Exhibits included: 1.1, 4.1, 4.2, 5.1, 5.2, 104.
  • New information: Yes, bond issuance and related documents.
  • Financial impact: $350 million debt increase, $358.1 million net proceeds.
  • Governance changes: None.
  • Risks: Interest rate and leverage impact.

Summary

Ameren Illinois expanded its 5.625% First Mortgage Bonds due 2055 by $350 million on September 26, 2025, raising net proceeds of approximately $358.1 million. The bonds are secured under existing indentures and were offered under an effective Form S-3 registration. Legal opinions confirm the bonds’ validity. This issuance increases long-term debt and liquidity, with no equity dilution or governance changes reported. Investors should monitor debt service and interest rate exposure going forward.

Original Filing