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American Electric Power to sell fixed-rate senior notes in two parts
By Devika Patel
Knoxville, Tenn., Nov. 8 – American Electric Power Co., Inc. will price a two-part offering of fixed-rate senior notes, according to a 424B5 filing with the Securities and Exchange Commission.
The notes will be sold in two tranches of series G notes and series H notes.
The notes may be called at any time.
J.P. Morgan Securities LLC, Scotia Capital (USA) Inc., Wells Fargo Securities LLC, BofA Merrill Lynch, Morgan Stanley & Co. LLC and SunTrust Robinson Humphrey Inc. are the bookrunners. Fifth Third Securities Inc. and Huntington Capital Markets are the co-managers.
Proceeds will be used for general corporate purposes, including short-term debt repayment and to repay the company's $550 million of 1.65% series E notes at maturity on Dec. 15, 2017.
American Electric Power is a Columbus, Ohio-based electricity provider.
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