Appalachian Power to price $650 million 10-, 30-year bonds Monday

By Aleesia Forni

Virginia Beach, May 11 – Appalachian Power Co. is in the market on Monday with a $650 million offer of senior notes in two tranches, according to a market source and a 424B5 filed with the Securities and Exchange Commission.

The sale will include series V notes due 2025 and series W notes due 2045.

Goldman Sachs & Co., U.S. Bancorp Investments Inc., Wells Fargo Securities LLC, BNY Mellon Capital Markets LLC, KeyBanc Capital Markets and MUFG are the joint bookrunners.

The co-managers are BofA Merrill Lynch, Fifth Third Securities Inc., PNC Capital Markets LLC and RBC Capital Markets, LLC.

Proceeds from the sale will be used for general corporate purposes relating to the company's utility business, including the repayment of the company's $300 million 3.40% senior notes, series S, due May 24, 2015 and the redemption of its $350 million 7.95% senior notes, series R, due Jan. 15, 2020

The utility is based in Columbus, Ohio.

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