NISOURCE INC. 8-K

What Happened

• NiSource Inc. announced it entered into a Terms Agreement on May 11, 2026 and closed the sale on May 18, 2026 of $1.25 billion aggregate principal amount of senior unsecured notes.
• The offering consists of $500 million of 4.750% notes due 2031 and $750 million of 5.300% notes due 2036. Lead underwriters included BNP Paribas Securities Corp., BofA Securities, MUFG Securities Americas and U.S. Bancorp Investments. The notes were issued under an existing indenture with The Bank of New York Mellon as successor trustee.

Key Details

• Total size: $1.25 billion (500M due 2031 + 750M due 2036).
• Interest rates/maturities: 4.750% fixed rate maturing 2031; 5.300% fixed rate maturing 2036.
• Use of proceeds: for general corporate purposes, including capital expenditures, working capital and repayment of existing debt.
• Documents: offering conducted under the company’s Form S-3 registration; forms of the notes and legal opinion were filed as exhibits to the 8-K.

Why It Matters

• The transaction increases NiSource’s long-term debt by $1.25B and provides liquidity for planned capital spending and debt repayment. For investors, the new notes affect the company’s interest expense profile and maturity schedule—important when assessing credit risk and future cash needs. The stated use of proceeds (capex, working capital, debt repayment) is typical and signals the company is financing ongoing operations and obligations rather than an acquisition.