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AEP Transmission plans to sell senior notes via four bookrunners
By Rebecca Melvin
New York, Sept. 9 – AEP Transmission Co. LLC plans to sell fixed-rate series L senior notes, according to a 424B3 filing with the Securities and Exchange Commission.
Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. LLC and Scotiabank are joint bookrunning managers of the notes.
The proceeds will be used for general corporate purposes relating to the utility business, including construction costs, and used to repay outstanding advances from affiliates. AEP estimates that its construction costs in 2019 will be about $1.59 billion. As of Sept. 3, the company had about $157 million in advances from affiliates outstanding.
Columbus, Ohio-based AEP Transmission is an electric utility and a division of American Electric Power Co., Inc.
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