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Arizona Public Service intends to sell notes through five bookrunners
By Devika Patel
Knoxville, Tenn., Aug. 7 – 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, PNC Capital Markets LLC, RBC Capital Markets Corp. and TD Securities (USA) LLC are the bookrunners.
Proceeds will be used to repay short-term debt consisting of commercial paper borrowings, for a mandatory tender of debt related to the $32 million Maricopa County, Ariz., Pollution Control Corp. Pollution Control Revenue Refunding Bonds, 2009 Series C, due May 1, 2029, to repay at maturity the company’s $50 million term loan agreement and for capital expenditures.
Arizona Public Service is an electric utility based in Phoenix and a subsidiary of Pinnacle West Capital Corp.
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