Summary
This 8-K filing reports on American Electric Power Company, Inc. (AEP) entering into an Underwriting Agreement on May 15, 2003, for the offering and sale of $300 million of its 5.25% Senior Notes, Series D, due 2015. The filing includes the Underwriting Agreement and related exhibits such as the Company Order and Officers' Certificate establishing the terms of the notes and the legal opinion from Simpson Thacher & Bartlett. The transaction was executed with Credit Suisse First Boston LLC and UBS Warburg LLC acting as underwriters. This offering represents a significant financing activity for AEP, aimed at raising capital through the issuance of long-term debt. The details of the notes, including their interest rate, maturity, redemption provisions, and restrictive covenants, are outlined. The filing also details the conditions and covenants governing the agreement between AEP and the underwriters, ensuring the legality and procedural compliance of the note issuance.
Key Highlights
- 1AEP entered into an Underwriting Agreement to issue and sell $300,000,000 of 5.25% Senior Notes, Series D, due 2015.
- 2The offering was made through underwriters Credit Suisse First Boston LLC and UBS Warburg LLC.
- 3The Senior Notes are governed by an Indenture dated May 1, 2001, and supplemented by a Company Order and Officers' Certificate dated May 20, 2003.
- 4The notes will mature on June 1, 2015, and bear a fixed interest rate of 5.25% per annum, payable semi-annually.
- 5The notes are redeemable at the Company's option under specified conditions, including a calculation based on Treasury rates plus a spread.
- 6The agreement includes standard provisions for underwriter indemnification and contribution, as well as conditions for termination.
- 7Restrictive covenants are in place regarding liens on capital stock of Public Utility Subsidiaries and limitations on mergers, consolidations, and asset sales.