American Water Capital to offer senior notes via nine bookrunners

By William Gullotti

Buffalo, N.Y., May 2 – American Water Capital Corp. intends to offer fixed-rate senior notes via nine bookrunners, according to a 424B5 filed with the Securities and Exchange Commission.

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

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

Computershare Trust Co., NA is the trustee.

Morgan, Lewis & Bockius LLP is counsel to the issuer. Sullivan & Cromwell LLP is counsel to the underwriters.

Proceeds from the proposed offering will be used to lend funds to the issuer and its subsidiaries to repay commercial paper obligations and for general corporate purposes. According to the filing, American Water had $579 million in aggregate principal amount of commercial paper outstanding with a weighted-average maturity of 10 days and a weighted-average annual interest rate of 0.5%.

American Water is a water and wastewater utility company based in Camden, N.J.

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