Ameren is offering junior subordinated notes due March 15, 2057, with proceeds intended for general corporate purposes, including repayment of short-term debt. Investors should weigh that use against Ameren's approximately $845.5 million of Commercial Paper outstanding on September 4 and the notes' ability to defer interest payments.

Key Highlights

  • Interest payments on the junior subordinated notes may be deferred for periods of up to 10 consecutive years.
  • Ameren's total Capitalization stood at $35,794 million as of June 30, with long-term debt representing 58.0% of the total.
  • Ameren reported approximately $845.5 million of commercial paper outstanding on September 4, 2026.

Ameren Corporation (NYSE: AEE) is offering junior subordinated notes due March 15, 2057, with proceeds intended for general corporate purposes including repayment of short-term debt. The securities would bear interest from issuance through March 15, 2032, at an annual rate that is not specified in the preliminary filing.

2057 Notes Target Corporate Funding The

notes are expected to be delivered in book-entry form through The Depository Trust Company, including for accounts connected with Clearstream Banking and Euroclear Bank. Barclays, BofA Securities, J.P. Morgan, Morgan Stanley, MUFG, Truist Securities, PNC Capital Markets and Scotiabank are serving as joint book-running managers. Ameren estimates offering expenses of approximately $2.3 million, excluding the Underwriting discount. The notes may be issued in additional amounts with the same terms, apart from the issue date, public price and, where applicable, the initial interest payment date. As of June 30, 2026, Short-Term Debt was $1,220 million, or 3.4% of total capitalization, while long-term debt including current maturities was $20,758 million, or 58.0%. Total debt including both categories was $21,978 million, equal to 61.4% of capitalization. Total capitalization was $35,794 million, including $13,687 million of Ameren Shareholder equity, or 38.2%, and $129 million of noncontrolling interests, or 0.4%.