By Cristal Cody
Tupelo, Miss., April 29 – AEP Texas Inc. priced $300 million of 4.15% 30-year senior notes on Monday at a spread of Treasuries plus 120 basis points, according to an FWP filing with the Securities and Exchange Commission.
The notes (Baa1/A-) priced at 99.864 to yield 4.158%.
Citigroup Global Markets Inc., Scotia Capital (USA) Inc. and TD Securities (USA) LLC were the bookrunners.
AEP Texas is a Corpus Christi, Tex.-based electric company.
| Issuer: | AEP Texas Inc.
|
| Amount: | $300 million
|
| Maturity: | May 1, 2049
|
| Description: | Series G senior notes
|
| Bookrunners: | Citigroup Global Markets Inc., Scotia Capital (USA) Inc. and TD Securities (USA) LLC
|
| Co-manager: | Huntington Investment Co.
|
| Coupon: | 4.15%
|
| Price: | 99.864
|
| Yield: | 4.158%
|
| Spread: | Treasuries plus 120 bps
|
| Call features: | Make-whole call before Nov. 1, 2048 at Treasuries plus 20 bps; thereafter at par
|
| Trade date: | April 29
|
| Settlement date: | May 1
|
| Ratings: | Moody’s: Baa1
|
| S&P: A-
|
| Distribution: | SEC registered
|
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