UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
September 5, 2023
Date of Report (Date of earliest event reported)
Commission File Number | Exact name of registrant as specified in its charter State or other jurisdiction of incorporation or organization Address of principal executive offices Registrant’s telephone number, including area code | IRS Employer Identification No. | ||
333-90553 | MIDAMERICAN FUNDING, LLC (An Iowa Limited Liability Company) 666 Grand Avenue, Suite 500 Des Moines, Iowa 50309-2580 (515) 242-4300 | 47-0819200 | ||
333-15387 | MIDAMERICAN ENERGY COMPANY (An Iowa Corporation) 666 Grand Avenue, Suite 500 Des Moines, Iowa 50309-2580 (515) 242-4300 | 42-1425214 |
N/A
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form
8-K
filing is intended to simultaneously satisfy the filing obligation of each r
egistrant under any of the following provisions (see General Instruction A.2. below):☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR240.14a-12) |
☐ | Pre-commencement communications pursuant to Rule14d-2(b) under the Exchange Act (17 CFR240.14d-2(b)) |
☐ | Pre-commencement communications pursuant to Rule13e-4(c) under the Exchange Act (17 CFR240.13e-4(c)) |
Registrant | Securities registered pursuant to Section 12(b) of the Act: | |
MIDAMERICAN FUNDING, LLC | None | |
MIDAMERICAN ENERGY COMPANY | None |
Indicate by check mark whethe
r either r
egistrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule12b-2
of the Securities Exchange Act of 1934(§240.12b-2
of this chapter).Emerging growth company ☐
If an emerging growth company, indicate by check mark i
f such r
egistrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐Item 8.01. | Other Events. |
On September 7, 2023, MidAmerican Energy Company (the “Company”) issued $350,000,000 aggregate principal amount of the Company’s 5.350% First Mortgage Bonds due 2034 and $1,000,000,000 aggregate principal amount of the Company’s 5.850% First Mortgage Bonds due 2054 (collectively, the “First Mortgage Bonds”). The First Mortgage Bonds were offered and sold pursuant to the provisions of an underwriting agreement (the “Underwriting Agreement”) among the Company, Barclays Capital Inc., Citigroup Global Markets Inc., MUFG Securities Americas Inc., Scotia Capital (USA) Inc. and U.S. Bancorp Investments, Inc., as representatives for several underwriters (collectively, the “Underwriters”) dated September 5, 2023. The Underwriting Agreement contains certain customary representations, warranties and covenants concerning the Company and the registration statement relating to the offering of the First Mortgage Bonds. In addition, the Company has agreed to indemnify the Underwriters against certain liabilities, including liabilities under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended.
The First Mortgage Bonds were issued pursuant to the Indenture date
d S
eptember 9, 2013 (the “Indenture”), between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee, as amended by the First Supplemental Indenture dated S
eptember 19, 2013 (the “First Supplemental Indenture”), and as supplemented by the Eleventh Supplemental Indenture dated S
eptember 7, 2023 (the “Eleventh Supplemental Indenture”).The First Mortgage Bonds are secured by a first mortgage lien on substantially all of the Company’s electric generating, transmission and distribution property within the State of Iowa, subject to certain exceptions and permitted encumbrances, created by a Mortgage, Security Agreement, Fixture Filing and Financing Statement date
d S
eptember 9, 2013, from the Company to The Bank of New York Mellon Trust Company, N.A., as collateral trustee, as may be amended or supplemented from time to time.The First Mortgage Bonds are secured equally and ratably with the Company’s currently outstanding senior notes as required by the terms of the indentures under which such senior notes were issued, and with all of the Company’s other first mortgage bonds from time to time outstanding. The Company intends to allocate an amount equal to the net proceeds of the First Mortgage Bonds to finance or refinance, in whole or in par
t, existing or new E
ligible Projects (as defined in the Company’s prospectus supplement dated S
eptember 5, 2023, which was filed with the Securities and Exchange Commission on September 6, 2023)
.The First Mortgage Bonds will be redeemable prior to maturity, under the terms and conditions set forth in the Eleventh Supplemental Indenture.
The descriptions of the Underwriting Agreement, the Indenture, the First Supplemental Indenture, the Eleventh Supplemental Indenture and the First Mortgage Bonds are qualified in their entirety by reference to the Underwriting Agreement, the Indenture, the First Supplemental Indenture, the Eleventh Supplemental Indenture and the specimen global certificates evidencing each of the First Mortgage Bonds, copies of which are filed as exhibits to this Form
8-K.
Item 9.01. | Financial Statements and Exhibits |
(d) Exhibits
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 193
4, each r
egistrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.MIDAMERICAN FUNDING, LLC MIDAMERICAN ENERGY COMPANY | ||||||
(Registrant) | ||||||
Date: September 7, 2023 | ||||||
/s/ Blake M. Groen | ||||||
Blake M. Groen | ||||||
Vice President and Controller of MidAmerican Funding, LLC and | ||||||
Vice President and Chief Financial Officer of MidAmerican Energy Company |