Appalachian Power to offer senior notes via four bookrunners

By Mary-Katherine Stinson

Lexington, Ky., March 18 – Appalachian Power Co. plans to price an offering of series CC senior notes, according to a 424B5 filed with the Securities and Exchange Commission.

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

BMO Capital Markets Corp., BofA Securities, Inc., Truist Securities, Inc. and U.S. Bancorp Investments, Inc. are the bookrunners.

Bank of New York Mellon Trust Co., NA is the trustee.

Counsel for the issuer will be in-house. Hunton Andrews Kurth LLP will act as counsel to the underwriters.

Proceeds will be used to repay the company’s $300 million credit agreement dated May 19, 2023 and for general corporate purposes, including funding a construction program, repaying advances from affiliates and replenishing working capital. As of March 12, the company had $81 million outstanding in advances from affiliates.

Appalachian Power is a Columbus, Ohio-based electric utility.

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