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NiSource Inc. (Holding Co.) | 6.50% Series B Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock (NI.PRB)

This preferred is marked as having been called.
Prospectus excerpt:  Each of the 20,000,000 depositary shares offered hereby represents a 1/1,000th ownership interest in a share of 6.50% Series B Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock, liquidation preference $25,000 per share (ìSeries B Preferred Stockî), of NiSource Inc., deposited with Computershare Inc. and Computershare Trust Company, N.A., acting jointly, as depositary. The depositary shares are evidenced by depositary receipts. As a holder of depositary shares, you are entitled to all proportional rights and preferences of the Series B Preferred Stock (including dividend, voting, redemption and liquidation rights). You must exercise such rights through the depositary. The shares of Series B Preferred Stock are perpetual and have no maturity date. We may, at our option, redeem the shares of Series B Preferred Stock (and thereby the depositary shares) (i) in whole or in part on March 15, 2024 (the ìFirst Call Dateî) or on any fifth anniversary of the First Call Date (each, a ìReset Dateî) at a redemption price equal to $25,000 per share (equivalent to $25 per depositary share) or (ii) in whole but not in part at any time within 120 days following a ìRatings Event,î as described under ìDescription of the Series B Preferred Stock ó Redemption,î at a redemption price equal to $25,500 per share (102% of the liquidation preference of $25,000 per share, equivalent to $25.50 per depositary share), in each case plus an amount equal to all accumulated and unpaid dividends thereon to, but not including, the date of redemption, whether or not declared. The Series B Preferred Stock will not have voting rights, except as set forth herein under ìDescription of the Series B Preferred Stock ó Voting Rights.î

Full Prospectus PDF », Secondary Prospectus PDF », NI Page »

Series:B
Alternate symbology:NI-B, NI-PB, NIprB
Redeemable?:Yes
Call Date:3/15/2024 (Now Trading Post Call Date)
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:20,000,000
Liquidation Preference:$25.00
Recent Market Price:$24.99
Discount to Liquidation Preference:
(More Preferreds Trading at a Discount »)
$-0.01 (-0.04%)
Annualized Dividend:1.625
Recent Ex-Date:2/22/2024
Current Yield:6.50%
Original Coupon:6.50%
Pay Period:Quarterly
Pay Dates:15-Mar, 15-Jun, 15-Sep, 15-Dec
CDx3 Compliance Rating: Learn NI.PRB's Rating
NiSource is an energy holding company. Through its subsidiaries, Co. is a natural gas and electric utility company. Co.'s reportable segments are: Gas Distribution Operations and Electric Operations. For its gas distribution operations, through its wholly-owned subsidiary, NiSource Gas Distribution Group, Inc., Co. owns distribution subsidiaries that provide natural gas to residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky and Maryland. Through its electric operations, Co. generates, transmits and distributes electricity through its subsidiary, Northern Indiana Public Service Company LLC.

Preferred: NI.PRB


Open the NI Information Page »
Name: 
NiSource Inc. (Holding Co.)
Website: 
www.nisource.com
Sector: 
Gas Utilities
Number of ETFs Holding NI: 
99 (see which ones)
Total Market Value Held by ETFs: 
$2,385,529,136.82
Total Market Capitalization: 
$12,070,000,000
% of Market Cap. Held by ETFs: 
19.76%

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