Pinnacle West to repay $125 million term loan via new note offering

By Tali Rackner

Minneapolis, Nov. 28 – Pinnacle West Capital Corp. plans to repay its $125 million term loan using the proceeds from a new senior note offering, according to a 424B3 filing with the Securities and Exchange Commission.

As of Nov. 27, the interest rate on the loan was 1.99233% per annum.

The loan will be repaid at or before its Dec. 31, 2017 maturity, the filing said.

Pinnacle West Capital is a Phoenix-based holding company that derives essentially all of its revenues and earnings through electric utility Arizona Public Service.

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