MILWAUKEE, August 6, 2004 – (PRNewswire-FirstCall) — Wisconsin Energy Corporation announced that it terminated its previously announced tender offer for up to $100 million aggregate principal amount of its 5.50% Senior Notes due December 1, 2008, up to $150 million aggregate principal amount of its 6.50% Senior Notes due April 1, 2011, and up to $50 million aggregate principal amount of its 6.20% Senior Notes due April 1, 2033. The tender offer commenced on July 9, 2004 and was set to expire at 12:00 midnight, Eastern time, on August 5, 2004. Prior to the expiration time of the tender offer, Wisconsin Energy notified the depositary of the termination and instructed the depositary to return all tendered notes to the tendering holders.
The company intends to use the funds that would have been used in connection with the terminated tender offer, together with other available funds, if necessary, to redeem all or a portion of the company’s 5.875% Senior Notes due April 1, 2006 (the “2006 Notes”) pursuant to the terms of the make- whole redemption provisions of the 2006 Notes. The company currently has $550 million aggregate principal amount of the 2006 Notes outstanding.
This press release is neither an offer to purchase nor a solicitation of an offer to sell any securities, nor does it constitute a notice of redemption of the 2006 Notes. The terminated offer was made only by the Offer to Purchase dated July 9, 2004. Persons with questions regarding the return of tendered notes should contact Global Bondholder Services Corp., the Depositary, Information Agent and Tender Agent, at (866) 795-2200 or (212) 430-3774.
About Wisconsin Energy Corporation
Wisconsin Energy Corporation, based in Milwaukee, is a Fortune 500 energy company serving more than one million electric customers in Wisconsin and Michigan’s Upper Peninsula and 990,000 natural gas customers in Wisconsin. The company’s principal utilities are We Energies and Edison Sault Electric. The company’s non-utility businesses include energy development, recycling and renewable energy and real estate development.
One of the Midwest’s premier energy companies, Wisconsin Energy Corporation (www.wisconsinenergy.com) has nearly 6,000 employees, 62,000 shareholders and $10 billion of assets.