American Electric Power pricing five-, 10-year senior notes Wednesday

By Andrea Heisinger

New York, Nov. 28 - American Electric Power Co., Inc. is expected to price senior notes (Baa2/BBB-/BBB) in two tranches on Wednesday, a market source said.

The offering will include maturities of Dec. 15, 2017 and Dec. 15, 2022.

Citigroup Global Markets Inc., Goldman Sachs & Co. and J.P. Morgan Securities LLC are the active bookrunners. Passive bookrunners are BNP Paribas Securities Corp., Credit Agricole Securities (USA) Inc. and RBS Securities Inc.

Co-managers are BNY Mellon Capital Markets, KeyBanc Capital Markets, Mizuho Securities USA Inc., Scotia Capital (USA) Inc. and SunTrust Robinson Humphrey Inc.

Proceeds will be used for general corporate purposes, including repayment of short-term debt and redemption of $242,775,000 of 5.25% notes, series D, due June 1, 2015, and $315 million of 8.75% junior subordinated debentures due March 1, 2063.

The electric utility is based in Columbus, Ohio.

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