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BKHU - Black Hills News Story

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Black Hills Corp. Announces Pricing of $550 Million Debt Offering

Fri 8th January, 2016 9:15pm
RAPID CITY, S.D. - Jan. 8, 2016 - Black Hills Corp. (NYSE: BKH) today
announced the pricing of a registered public debt offering of $550 million in
senior unsecured notes. The debt offering consists of $300 million of 3.950
percent senior notes due 2026, priced at 99.697 percent of their principal
amount, and $250 million of 2.500 percent senior notes due 2019, priced at
99.877 percent of their principal amount. Black Hills expects the offering to
close on Jan. 13, 2016, subject to customary closing conditions. 
 
 The company plans to use net proceeds from the debt offering to partially
fund the pending acquisition of SourceGas Holdings LLC, which is expected to
close in the first quarter of 2016. 
 
 Credit Suisse Securities (USA) LLC, U.S. Bancorp Investments, Inc.,
Mitsubishi UFJ Securities (USA), Inc. and Scotia Capital (USA) Inc. are
serving as joint book-running managers for the offering. 
 
 The offering is being made pursuant to an effective shelf registration
statement filed with the Securities and Exchange Commission, and the offering
will be made only by means of a prospectus supplement for such offering and an
accompanying prospectus. Copies of the prospectus supplement and accompanying
prospectus relating to the offering may be obtained by writing or calling the
joint book-running managers for the offering as follows: Credit Suisse
Securities (USA) LLC at One Madison Avenue, New York, NY 10010-3629, Attn:
Prospectus Department, by calling toll free 1-800-221-1037 or by e-mail at
newyork.prospectus@credit-suisse.com; from U.S. Bancorp Investments, Inc. by
calling toll-free at 1-877-558-2607; from Mitsubishi UFJ Securities (USA),
Inc. at 1221 Avenue of the Americas, 6th Floor, New York, NY 10020-1001 or by
calling toll free 1-877-649-6848; or from Scotia Capital (USA) Inc. at 250
Vesey Street, New York, NY 10281, or by calling toll free 1-800-372-3930. An
electronic copy of the prospectus supplement is available on the website of
the Securities and Exchange Commission at www.sec.gov. 
 
 This press release does not constitute an offer to sell or a solicitation of
an offer to buy any securities in any state or jurisdiction in which it is
unlawful to make an offer, solicitation or sale. 
 
 Black Hills Corporation 
 Black Hills Corp. (NYSE: BKH) is a growth-oriented, vertically-integrated
energy company with a tradition of improving life with energy and a vision to
be the energy partner of choice. Based in Rapid City, South Dakota, the
company serves 792,000 natural gas and electric utility customers in Colorado,
Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. The company also
generates wholesale electricity and produces natural gas, oil and coal. Black
Hills Corp.'s more than 2,000 employees form partnerships and produce positive
results for our customers, communities and shareholders. 
 
 Investor Relations Contact 
 Jerome E. Nichols 
 605-721-1171 
 jerome.nichols@blackhillscorp.com 
 
 24-Hour Media Assistance 
 866-243-9002 
 
 Caution Regarding Forward-Looking Statements 
 This news release includes "forward-looking statements" as defined by the
Securities and Exchange Commission, or SEC. We make these forward-looking
statements in reliance on the safe harbor protections provided under the
Private Securities Litigation Reform Act of 1995. All statements, other than
statements of historical facts, included in this news release that address
activities, events or developments that we expect, believe or anticipate will
or may occur in the future are forward looking statements, including
statements regarding the expected proceeds from the offering and the expected
closing date of the acquisition of SourceGas Holdings LLC. These
forward-looking statements are based on assumptions which we believe are
reasonable based on current expectations and projections about future events
and industry conditions and trends affecting our business. However, whether
actual results and developments will conform to our expectations and
predictions is subject to a number of risks and uncertainties that, among
other things, could cause actual results to differ materially from those
contained in the forward-looking statements, including the factors discussed
above, the risk factors described in Item 1A of Part I of our 2014 Annual
Report on Form 10-K, as amended by Form 10-K/A filed on August 7, 2015, Item
1A of Part II of our Quarterly Report on Form 10-Q for the quarter ended
September 30, 2015, and other reports that we file with the SEC from time to
time. 
 
 New factors that could cause actual results to differ materially from those
described in forward-looking statements emerge from time to time, and it is
not possible for us to predict all such factors, or the extent to which any
such factor or combination of factors may cause actual results to differ from
those contained in any forward-looking statement. We assume no obligation to
update publicly any such forward-looking statements, whether as a result of
new information, future events or otherwise. 
 
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 This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf
of NASDAQ OMX Corporate Solutions clients. 
 The issuer of this announcement warrants that they are solely responsible for
the content, accuracy and originality of the information contained therein. 
 Source: Black Hills Corporation via Globenewswire 
 HUG#1977769
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