Arizona Public Service to issue $300 million 10-year notes Thursday

By Aleesia Forni

Virginia Beach, May 14 – Arizona Public Service Co. is planning to sell a $300 million offering of senior notes due 2025 on Thursday, according to an informed source and a 424B3 filed with the Securities and Exchange Commission.

The bookrunners are BNY Mellon Capital Markets LLC, J.P. Morgan Securities LLC, MUFG and U.S. Bancorp Investments Inc. Blaylock Beal Van LLC, Drexel Hamilton and Williams Capital Group LP are the co-managers.

Proceeds will be used to repay short-term borrowings, including commercial paper and credit facility borrowings.

Arizona Public Service is an electric utility based in Phoenix and a subsidiary of Pinnacle West Capital Corp.

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