By Andrea Heisinger
New York, Nov. 21 - American Water Capital Corp. priced $75 million of 10% 30-year senior monthly notes Friday, according to an FWP filing with the Securities and Exchange Commission.
The notes (Baa2/BBB+) priced at 96.85 and will pay interest monthly.
The notes may be redeemed on or after Dec. 1, 2013 at par plus interest.
Edward D. Jones & Co. LP was the bookrunner.
Proceeds of the offering will be used to repay short-term debt.
The financial arm of American Water Works Co. Inc. is based in Voorhees, N.J.
| Issuer: | American Water Capital Corp.
|
| Issue: | Senior monthly notes
|
| Amount: | $75 million
|
| Maturity: | Dec. 1, 2038
|
| Bookrunner: | Edward D. Jones & Co. LP
|
| Coupon: | 10%
|
| Price: | 96.85
|
| Call: | On or after Dec. 1, 2013 at par plus accrued interest
|
| Trade date: | Nov. 21
|
| Settlement date: | Nov. 26
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB+
|
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