05:29 PM EDT, 09/30/2024 (MT Newswires) -- Ameren ( AEE ) subsidiary Union Electric priced a $450 million offering of 5.125% first mortgage bonds due 2055 at 99.881% of their principal amount.

The transaction is expected to close Oct. 7, the company said late Monday.

Union Electric, doing business as Ameren Missouri, intends to use the net proceeds to refinance short-term debt and fund near-term capital expenditures with an amount equal to the net proceeds set for sustainable projects.