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Arizona Public to sell notes through BNY Mellon, JPMorgan, MUFG, TD
By Devika Patel
Knoxville, Tenn., Sept. 15 – Arizona Public Service Co. is planning to price an offering of notes, according to a 424B3 filed with the Securities and Exchange Commission.
The notes will have a make-whole call and then are callable at par.
BNY Mellon Capital Markets LLC, J.P. Morgan Securities LLC, MUFG and TD Securities (USA) LLC are the bookrunners. KeyBanc Capital Markets Inc. is the co-manager.
Proceeds will be used to repay short-term debt consisting of commercial paper borrowings and to replenish cash used in connection with the payment at maturity of the company’s $250 million of 6.25% notes due Aug. 1, 2016.
Arizona Public Service is an electric utility based in Phoenix and a subsidiary of Pinnacle West Capital Corp.
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