Business Context and Reporting Period
This Form 8-K Current Report is filed by Ameren Corporation and its subsidiary, Union Electric Company, regarding events occurring on December 8, 2005. The filing serves to report the issuance and sale of debt securities and to provide related exhibits.
Key Financial Metrics
- Debt Issuance: Union Electric Company issued and sold $260,000,000 principal amount of 5.40% Senior Secured Notes due 2016.
- Interest Rate: 5.40%.
- Maturity Date: 2016.
- Revenue, Profit, Cash Flow, Margins, Liquidity: The filing text does not provide a clear value for these operational metrics as this is a transaction-specific report.
Material Changes
The primary material change is the increase in long-term debt obligations for Union Electric Company resulting from the $260 million note offering. The proceeds were raised pursuant to a Registration Statement on Form S-3 declared effective on October 20, 2005.
Guidance, Outlook, and Risks
The filing does not contain management commentary, forward-looking guidance, or specific risk factors beyond the standard legal opinions regarding the legality of the notes. The transaction was underwritten by Barclays Capital Inc., BNY Capital Markets, Inc., and J.P. Morgan Securities Inc.
Investor Verification Checklist
- Verify the use of proceeds from the $260 million note issuance in subsequent financial statements.
- Review the Supplemental Indenture dated December 1, 2005, for specific covenants and security terms.
- Confirm the impact of the new 5.40% interest obligation on the company's overall debt service coverage ratio.
- Check for any subsequent amendments to the underwriting agreement or note terms.