Ameren Corporation & Union Electric Company - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed on June 15, 2007, by Ameren Corporation and its subsidiary, Union Electric Company. The filing reports a specific corporate event regarding a debt offering rather than a standard periodic financial reporting period.
Key Financial Metrics
The filing details a capital raising event with the following specific metrics:
- Debt Issuance: $425,000,000 principal amount.
- Instrument: 6.40% Senior Secured Notes due 2017.
- Issuer: Union Electric Company (subsidiary of Ameren Corporation).
- Underwriters: BNY Capital Markets, Inc., Goldman, Sachs & Co., and UBS Securities LLC.
The filing text does not provide clear values for revenue, profit, cash flow, operating margins, or overall liquidity positions, as this document focuses solely on the debt issuance event.
Material Changes
The material change reported is the increase in long-term debt obligations for Union Electric Company resulting from the issuance of the $425 million Senior Secured Notes. This transaction was executed pursuant to a Registration Statement on Form S-3 declared effective on October 20, 2005.
Outlook, Risks, and Unusual Items
The filing does not contain management commentary on future outlook, specific risk factors, or unusual items beyond the standard disclosure of the debt offering. The document serves primarily to file exhibits related to the transaction, including the Underwriting Agreement, Indentures, and legal opinions regarding the legality of the Notes.
Investor Verification Checklist
- Verify the use of proceeds from the $425 million note issuance in subsequent financial statements.
- Review the specific covenants and security terms in the Supplemental Indenture (Exhibit 4.5) and the 1937 Indenture of Mortgage.
- Confirm the impact of the 6.40% interest rate on the company's overall cost of debt and interest coverage ratios.
- Check for any subsequent amendments to the debt structure or refinancing activities related to the 2017 maturity date.