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American Water Capital talks $400 million 10.5-year notes at Treasuries plus 115 bps area
By Aleesia Forni
Virginia Beach, Nov. 7 - American Water Capital Corp. is in the market on Thursday with a $400 million offering of senior notes due March 1, 2024 (Baa2/BBB+/), according to a market source and a 424B3 filing with the Securities and Exchange Commission.
The notes are being 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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