Vectren ( VVC) said it announced the closing Wednesday on the issuance of $100 million in 5.95% insured quarterly notes due Oct, 1, 2036.

Edward Jones was the sole manager and book runner on the offering, the Evansville, Ind.-based company said.

On Thursday, the proceeds will be used to redeem the existing $100 million of 7.25% senior notes due Oct. 15, 2031.

"We are pleased to complete this long-term debt financing and take advantage of the current favorable markets to redeem and refinance some of our existing higher coupon debt," the company added.
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