American Water Capital launches $400 million notes due 2024 at Treasuries plus 115 bps

By Aleesia Forni

Virginia Beach, Nov. 7 - American Water Capital Corp. launched a $400 million offering of senior notes due March 1, 2024 (Baa2/BBB+/) on Thursday at Treasures plus 115 basis points, according to a market source.

The notes were talked in the area of Treasuries plus 115 bps.

Bookrunners are J.P. Morgan Securities LLC, UBS Investment Bank and Wells Fargo Securities LLC.

Santander, Mitsubishi UFJ Securities, Williams Capital Group LP, Blaylock Robert Van LLC, C.L. King & Associates, Loop Capital Markets LLC, MFR Securities Inc. and Mischler Financial Group Inc. are the co-managers.

Proceeds will be used to finance redemptions of some long-term debt and to fund repayment of short-term debt.

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

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