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A $900 million print of Junior Subordinated Notes due 2057 by Ameren Corporation (AEE) closed September 18, 2026, generating net proceeds of $891.0 million before expenses.
The case for this deal is a large, clean capital raise executed against a shelf registration already in place with the SEC.
What complicates the picture is the instrument itself: junior subordinated paper carries the weakest claim among debt holders in a recovery scenario, and the 2057 maturity date extends that obligation across three decades.
Ameren registered the offering under Form S-3 (File No. 333-297949), which the SEC declared effective August 4, 2026. A Prospectus Supplement dated September 8, 2026 governed the specific terms of the notes.
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