American Electric Power to sell series R senior notes

By Mary-Katherine Stinson

Lexington, Ky., Dec. 6 – American Electric Power Co., Inc. intends to price series R senior notes, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will have a make-whole call followed by a par call.

Barclays, BofA Securities, Inc., Goldman Sachs & Co. LLC, U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC are the joint bookrunning managers for the offering.

Co-managers are Fifth Third Securities, Inc., Huntington Securities, Inc., CAVU Securities LLC, Drexel Hamilton, LLC, Loop Capital Markets LLC and Siebert Williams Shank & Co., LLC.

Bank of New York Mellon Trust Co., NA will be the trustee.

The company is using in-house counsel, and the underwriters are using Hunton Andrews Kurth LLP.

The proceeds will be used to repay at maturity all or a portion of the $805 million aggregate principal amount of 2.031% junior subordinated debentures maturing on March 15, 2024. In the interim, the company may use the net proceeds for general corporate purposes, including the repayment of short-term debt.

American Electric Power is a Columbus, Ohio-based electricity provider.

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