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Ni-Source Establishes $500 Mln At-The-Market Equity Issuance Program

While reporting its third-quarter financial results on Thursday, NiSource Inc. (NI) said it has established an "at-the-market" or ATM equity offering program under which it may sell shares of its common stock having an aggregate sales price of up to $500 million.

NiSource said it has entered into separate equity distribution agreements with each of MUFG Securities Americas Inc., BNP Paribas Securities Corp., Citigroup, Goldman Sachs & Co. LLC and RBC Capital Markets, LLC in their capacity as agents. Pursuant to these agreements, sales of shares of NiSource's common stock may be made in transactions that are deemed to be "at-the-market" offerings.

NiSource intends to use the proceeds from the sales, if any, of the shares of its common stock to finance capital expenditures and for general corporate purposes.

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