December 7, 2009 (FinancialWire) — NiSource Inc. (NYSE: NI) said its finance subsidiary, NiSource Finance Corp., has issued $500 million of senior unsecured notes in an underwritten offering. Payments on the notes are guaranteed by NiSource Inc.

The company said it will use the proceeds of the issuance to complete the refinancing of outstanding long-term debt scheduled to mature in 2010 and 2011.

The notes mature on March 1, 2022 and carry a coupon rate of 6.125 percent. The lead underwriters involved in the issuance were Credit Suisse (NYSE: CS), Morgan Stanley (NYSE: MS) and UBS Investment Bank (NYSE: UBS).

NiSource said it continues to maintain its $1.5 billion revolving credit facility that extends to July 2011.

Merrillville, Indiana-based NiSource, is engaged in natural gas transmission, storage and distribution, as well as electric generation, transmission and distribution.

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