Hunton Advises Union Electric Company on $476 Million Securitized Utility Tariff Bonds Offering

Time 2 Minute Read
December 20, 2024
News

Hunton Andrews Kurth LLP acted as counsel to Union Electric Company d/b/a Ameren Missouri (“Ameren Missouri”) on an SEC-registered offering of $476 million aggregate principal amount of Securitized Utility Tariff Bonds, Series 2024-A (the “Bonds”) by Ameren Missouri Securitization Funding I, LLC, as “Issuing Entity”, a special purpose entity, wholly-owned by Ameren Missouri, as sponsor, depositor and initial servicer. Ameren Missouri is engaged, generally, in the business of generation, transmission, distribution and sale of electricity in central and eastern Missouri, including the Greater St. Louis area. The Bonds were sold pursuant to a financing order issued by the Missouri Public Service Commission. The Bond proceeds will be used to (i) pay expenses of issuance and (ii) purchase the securitized utility tariff property from Ameren Missouri. In accordance with the financing order, Ameren Missouri intends to use the ultimate proceeds it receives from the sale of the securitized utility tariff property to recover the qualified extraordinary costs incurred by Ameren Missouri in connection with the retirement of Rush Island, as approved in the financing order.

The Hunton team included Michael F. Fitzpatrick, Jr., Adam O’Brian, Josh Van Kirk and Matthew A. HayesJason W. Harbour assisted with certain bankruptcy advice, Shawn Patrick Regan and Kate Perkins assisted with certain constitutional law matters, Bob Hahn, Hillary Peet Patterson and Emma Weiss Gram assisted with certain intercreditor matters, Leslie A. Okinaka provided ERISA advice and George Howell, Anna Knecht Page and Zachary Roop provided tax advice.

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