Obligation Interstate Energy & Lighting 7.25% ( US461070AF10 ) en USD

Société émettrice Interstate Energy & Lighting
Prix sur le marché 100 %  ▼ 
Pays  Etas-Unis
Code ISIN  US461070AF10 ( en USD )
Coupon 7.25% par an ( paiement semestriel )
Echéance 01/10/2018 - Obligation échue



Prospectus brochure de l'obligation Interstate Power and Light US461070AF10 en USD 7.25%, échue


Montant Minimal 1 000 USD
Montant de l'émission 250 000 000 USD
Cusip 461070AF1
Notation Standard & Poor's ( S&P ) N/A
Notation Moody's N/A
Description détaillée Interstate Power and Light (IPL) était une entreprise d'électricité américaine, rachetée par Alliant Energy en 2000.

L'Obligation émise par Interstate Energy & Lighting ( Etas-Unis ) , en USD, avec le code ISIN US461070AF10, paye un coupon de 7.25% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 01/10/2018







Final Prospectus Supplement
424B5 1 d424b5.htm FINAL PROSPECTUS SUPPLEMENT
Filed Pursuant to Rule 424(b)(5)
Registration No. 333-151898
Prospectus Supplement
(To Prospectus dated August 6, 2008)
$250,000,000
Interstate Power and Light Company
7.25% Senior Debentures due 2018
We will pay interest on the senior debentures on April 1 and October 1 of each year, beginning on April 1, 2009.
The senior debentures will mature on October 1, 2018. We may redeem some or all of the senior debentures at
any time and from time to time at the redemption prices described in this prospectus supplement.
The senior debentures will be our unsecured senior obligations and rank equally with our other unsecured senior
indebtedness from time to time outstanding. The senior debentures will be issued only in registered form in
denominations of $1,000, and will not be listed on any securities exchange.
Investing in the senior debentures involves risks. See "Risk Factors" on page 17 of our Annual Report on
Form 10-K for the year ending December 31, 2007 and on page 70 of our Quarterly Report on Form 10-Q
for the quarterly period ending June 30, 2008.

Per Senior


Debenture
Total
Public offering price (1)

99.129%
$247,822,500
Underwriting discount

0.650%
$ 1,625,000
Proceeds, before expenses, to Interstate Power and Light Company (1)

98.479%
$246,197,500
(1) Plus accrued interest if any, from October 6, 2008, if settlement occurs after that date.
Neither the Securities and Exchange Commission nor any state securities commission has approved or
disapproved of these securities or determined if this prospectus supplement or the accompanying prospectus is
truthful or complete. Any representation to the contrary is a criminal offense.
The senior debentures will be ready for delivery in book-entry form only through The Depository Trust Company
on or about October 6, 2008.


Joint Book-Running Managers
Barclays Capital
Citi
J.P. Morgan




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Final Prospectus Supplement
Co-Managers
BNY Mellon Capital Markets, LLC
Lazard Capital Markets
RBS Greenwich Capital
The date of this prospectus supplement is October 1, 2008
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Final Prospectus Supplement
TABLE OF CONTENTS
Prospectus Supplement


Page
About This Prospectus Supplement

ii
Forward-Looking Statements

iii
Prospectus Supplement Summary

S-1
Use of Proceeds

S-4
Capitalization

S-4
The Company

S-5
Description of Senior Debentures

S-8
Underwriting
S-12
Legal Matters
S-14
Experts
S-14
Prospectus



Page
About This Prospectus

2
Interstate Power and Light Company

3
Use of Proceeds

3
Ratio of Earnings to Fixed Charges and Ratio of Earnings to Combined Fixed Charges and Preferred
Dividend Requirements

3
Description of Preferred Stock

4
Description of Debt Securities

6
Global Securities

12
Plan of Distribution

13
Where You Can Find More Information

15
Legal Matters

15
Experts

15

i
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Final Prospectus Supplement
ABOUT THIS PROSPECTUS SUPPLEMENT
This document is in two parts. The first part is this prospectus supplement, which describes the specific terms of
this offering. The second part, the accompanying prospectus, gives more general information, some of which
may not apply to this offering. You should read the entire prospectus supplement, as well as the accompanying
prospectus and the documents incorporated by reference that are described under "Where You Can Find More
Information" in the accompanying prospectus. Some of these documents, however, are filed on a combined basis
with our parent, Alliant Energy Corporation, and its direct subsidiary, Wisconsin Power and Light Company.
Information contained in these documents relating to these entities is filed by them on their own behalf and not
by us. The senior debentures are not obligations of Alliant Energy Corporation or Wisconsin Power and Light
Company and you should not rely on that information when deciding whether to invest in our senior debentures.
In the event that the description of the offering varies between this prospectus supplement and the accompanying
prospectus, you should rely on the information contained in this prospectus supplement.
You should rely only on the information relating to Interstate Power and Light Company contained or
incorporated by reference in this prospectus supplement and the accompanying prospectus. We have not, and the
underwriters have not, authorized any other person to provide you with different information. If anyone provides
you with different or inconsistent information, you should not rely on it. We are not, and the underwriters are not,
making an offer to sell these securities in any jurisdiction where the offer or sale is not permitted. You should
assume that the information appearing in this prospectus supplement, the accompanying prospectus and the
documents incorporated by reference is accurate only as of respective dates of those documents in which the
information is contained. Our business, financial condition, results of operations and prospects may have changed
since those dates.
Unless we otherwise indicate or unless the context requires otherwise, all references in this prospectus
supplement to "we," "our," "us" or similar references mean Interstate Power and Light Company.
Our principal executive offices are located at Alliant Energy Tower, 200 First Street, SE, Cedar Rapids, Iowa
52401, and our telephone number is (319) 786-4411.

ii
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Final Prospectus Supplement
FORWARD-LOOKING STATEMENTS
This prospectus supplement, the accompanying prospectus and the information we incorporate by reference into
this prospectus supplement and the accompanying prospectus contain forward-looking statements that are
intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act
of 1995. All statements other than statements of historical fact, including statements regarding anticipated
financial performance, business strategy and management's plans and objectives for future operations, are
forward-looking statements. These forward-looking statements can be identified as such because the statements
generally include words such as "expect," "intend," "believe," "anticipate," "estimate," "plan" or "objective" or
other similar expressions. These forward-looking statements are subject to risks and uncertainties that could
cause actual results to differ materially from those expressed in, or implied by, these statements. Additional
information concerning factors that could cause actual results to differ materially from those in the forward-
looking statements is contained from time to time in our U.S. Securities and Exchange Commission, or SEC,
filings, including, but not limited to, the risk factor disclosure beginning on page 17 of our Annual Report on
Form 10-K for the fiscal year ending December 31, 2007 and on page 70 of our Quarterly Report on Form 10-Q
for the quarterly period ending June 30, 2008. Some, but not all, of the risks and uncertainties include the
following:

· federal and state regulatory or governmental actions, including the impact of energy-related and tax

legislation and regulatory agency orders;

· our ability to obtain adequate and timely rate relief to allow for, among other things, the recovery of

operating costs, capital expenditures and deferred expenditures, and the earning of reasonable rates of
return;


· current or future litigation, regulatory investigations, proceedings or inquiries;

· developments that adversely impact our ability to implement our strategic plans, including unanticipated

issues in connection with construction of our new generating facilities;

· issues related to the availability of our generating facilities and the supply and delivery of fuel and

purchased electricity and price thereof, including the ability to recover and retain purchased power, fuel
and fuel-related costs through rates in a timely manner;

· the impact fuel and fuel-related prices and other economic conditions may have on our customers'

demand for utility services;

· issues associated with environmental remediation efforts and with environmental compliance generally,

including changing environmental laws and regulations and the ability to recover through rates all
environmental compliance costs;

· potential impacts of any future laws or regulations regarding global climate change or carbon emissions

reductions;


· weather effects on results of operations;


· financial impacts of hedging strategies, including the impact of weather hedges on our earnings;

· unplanned outages at our generating facilities and risks related to recovery of incremental costs through

rates;

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Final Prospectus Supplement

· the direct or indirect effects resulting from terrorist incidents or responses to such incidents;

· unanticipated impacts that storms or natural disasters in our service territories may have on our
operations, including uncertainties associated with efforts to remediate the effects of the June 2008

Midwest flooding, reimbursement of storm-related costs covered by insurance, rate relief for costs
associated with restoration, and the impact of the flooding on the economic conditions of the affected
service territories;


· economic and political conditions in our service territories;


· the growth rate of ethanol and biodiesel production in our service territories;

iii
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Final Prospectus Supplement

· any material post-closing adjustments related to any of our past asset divestitures;

· employee workforce factors, including changes in key executives, collective bargaining agreements or

work stoppages;


· continued access to the capital markets under competitive terms and rates;


· access to technological developments;

· issues related to electric transmission, including operating in the Midwest Independent Transmission

System Operator, or MISO, energy market, the impacts of potential future billing adjustments from
MISO and recovery of costs incurred;


· inflation and interest rates;


· the impact of necessary accruals for the terms of our incentive compensation plans;


· the effect of accounting pronouncements issued periodically by standard-setting bodies;


· our ability to continue cost controls and operational efficiencies; and

· our ability to successfully complete ongoing tax audits and appeals with no material impact on our

earnings and cash flows.
We assume no obligation, and disclaim any duty, to update these forward-looking statements.

iv
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Final Prospectus Supplement
PROSPECTUS SUPPLEMENT SUMMARY
This summary highlights information contained elsewhere in this prospectus supplement and the accompanying
prospectus. This summary may not contain all of the information that may be important to you. You should read
the entire prospectus supplement and the accompanying prospectus carefully before making a decision to invest
in our senior debentures.
Our Company
We are a public utility serving customers in Iowa and Minnesota. We are engaged principally in:


· the generation and distribution of electric energy in selective markets in Iowa and Minnesota;


· the distribution and transportation of natural gas in selective markets in Iowa and Minnesota; and

· the provision of steam services to certain customers in Cedar Rapids, Iowa and various other energy-

related products and services.
As of December 31, 2007, we served approximately 526,000 retail electric customers in approximately 750
communities and approximately 234,000 retail gas customers in approximately 240 communities.
All of our common stock is owned by Alliant Energy Corporation, an energy-services provider with subsidiaries,
including us, serving primarily electric and natural gas customers in the Midwest.
We are subject to the jurisdiction of the Iowa Utilities Board, or IUB, and the Minnesota Public Utilities
Commission, or MPUC, with respect to various portions of our operations. We are also subject to the jurisdiction
of the Federal Energy Regulatory Commission, or FERC. Our parent corporation, Alliant Energy Corporation, is
a "holding company" and we are a "subsidiary company" within the Alliant Energy Corporation "holding
company system" as defined under the Public Utility Holding Company Act of 2005. As a result, we are subject
to some of the regulatory provisions of that Act.
The Offering
The following is a brief summary of some of the terms of this offering. For a more complete description of the
terms of the senior debentures, see "Description of the Senior Debentures" in this prospectus supplement and
"Description of Debt Securities" in the accompanying prospectus.
Issuer
Interstate Power and Light Company
Senior debentures offered
$250 million aggregate principal amount of 7.25% senior debentures
due October 1, 2018.
Maturity
October 1, 2018.
Interest payment dates
April 1 and October 1 of each year, beginning on April 1, 2009.

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Final Prospectus Supplement
Ranking
The senior debentures will be our unsecured senior obligations and
rank equally with our other unsecured senior indebtedness from time
to time outstanding. The senior debentures will also be subordinated
to any secured indebtedness to the extent of the assets securing such
indebtedness. We do not currently have any secured indebtedness.

S-1
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Final Prospectus Supplement
Optional redemption
The senior debentures will be redeemable, at our option, in whole or
in part at any time and from time to time, at the redemption prices
described in "Description of Senior Debentures--Optional
Redemption."
Covenants
The indenture governing the senior debentures contains covenants
that, among other things, limit our ability to:

· create certain types of secured indebtedness without providing for the senior

debentures to be equally and ratably secured; and


· consolidate, merge or sell assets.
These covenants are subject to important exceptions and
qualifications, which are described under the heading "Description of
Debt Securities" in the accompanying prospectus.
No limitation on debt
The indenture governing the senior debentures does not limit the
amount of senior debentures that we may issue or provide holders any
protections should we be involved in a highly leveraged transaction.
Ratings
Moody's Investors Service, Inc. has assigned the senior debentures a rating
of A3. Standard & Poor's Ratings Services has assigned the
senior debentures a rating of BBB+. Ratings are not a recommendation to
buy, sell or hold the senior debentures. We cannot give any assurance that
the ratings will be retained for any time period or that they will not be
revised or withdrawn by the ratings agencies.
Use of proceeds
We estimate that we will receive net proceeds from this offering of
approximately $245.9 million, after deducting the underwriting
discount and estimated offering expenses payable by us. We intend to
use the proceeds from this offering initially to repay short-term debt,
invest in short-term assets and redeem $13.3 million of long-term
debt and thereafter to fund capital expenditures, including new
generating facilities, environmental projects and other utility capital
projects, and for general working capital purposes.
Denominations
The senior debentures will be issued in minimum denominations of
$1,000 and integral multiples of $1,000.

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Document Outline