Alliant Energy ticks up after $500 million convertible bond offering priced

Shares of utility firm Alliant Energy LNT.O rise 0.2% to $59.62 in morning trading

LNT late Monday priced its $500 million offering of convertible bonds due 2028 in a private placement

Stock closed down 3.6% at $59.52 on Monday after LNT unveiled the $500 million convertible bond offering

LNT intends to use the proceeds for repayment or refinancing of debt and other purposes

Initial conversion price of $75.89 represents 27.5% premium to stock's last close

4 of 14 brokerages rate the stock "buy" or higher, 9 "hold" and 1 "sell"; median PT $67 - data compiled by LSEG

As of last close, LNT stock up 0.6% YTD