American Water to price notes in two parts via nine bookrunners

By Devika Patel

Knoxville, Tenn., April 8 – American Water Capital Corp. expects to price fixed-rate senior notes in two tranches, according to a 424B5 filed with the Securities and Exchange Commission.

The notes feature a make-whole call and then a par call.

BofA Securities, Inc., Mizuho Securities USA Inc., RBC Capital Markets Corp., U.S. Bancorp Investments Inc., Wells Fargo Securities LLC, J.P. Morgan Securities LLC, MUFG, PNC Capital Markets LLC and TD Securities (USA) LLC are the bookrunners.

Proceeds will be used to lend funds to American Water and its subsidiaries, to repay $28.4 million of the company’s long-term debt, to repay commercial paper and for general corporate purposes.

The investor-owned water and wastewater utility is based in Voorhees, N.J.

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