Arizona Public Service to repay term loan, revolver via new notes

By Marisa Wong

Los Angeles, May 19 – Arizona Public Service Co. plans to repay all or a portion of its $200 million outstanding term loan due August 2020 and revolver borrowings using proceeds from an offering of new notes, according to a 424B3 filing with the Securities and Exchange Commission.

As of May 18, revolver borrowings totaled $170 million and had a weighted average interest rate of 1.11%.

The term loan bears interest at Libor plus 50 basis points, or 0.61% at May 18.

The electric utility is based in Phoenix.

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