We advised the underwriters on the SEC-registered offering

Davis Polk advised the underwriters on an SEC-registered offering by NiSource Inc. (the “Company”) of 8,625,000 equity units, including 1,125,000 equity units from the exercise by the underwriters of their option to purchase additional equity units. The equity units will initially consist of 862,500 shares of the Company’s Series C mandatory convertible preferred stock, par value $0.01 per share, with a liquidation preference of $1,000 per share, and contracts to purchase, for an aggregate of $862.5 million, a variable number of shares of the Company’s common stock.

NiSource is one of the largest fully-regulated utility companies in the United States, serving approximately 3.2 million natural gas customers and 500,000 electric customers across six states through its local Columbia Gas and NIPSCO brands. Based in Merrillville, Indiana, NiSource’s approximately 7,500 employees are focused on safely delivering reliable and affordable energy to customers and communities.

The Davis Polk corporate team included partners John G. Crowley and Mark J. DiFiore and associates Michael Jiang, Joseph Luizzi, Xi (Brooke) Zheng and Yini Chen. The tax team included associate Yixuan Long. Associate Daniel P. Kearney provided intellectual property advice. Counsel Loyti Cheng and associate Michael Comstock provided environmental advice. All members of the Davis Polk team are based in the New York office.

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