Summary
American Electric Power Company, Inc. (AEP) filed an 8-K on December 3, 2018, to disclose a significant debt issuance event. On November 29, 2018, the company successfully issued $1 billion in senior notes. This issuance consisted of $400 million in 3.65% Senior Notes due in 2021 and $600 million in 4.30% Senior Notes due in 2028. These notes were offered under an Underwriting Agreement with Barclays Capital Inc. and Morgan Stanley & Co. LLC acting as representatives for the underwriters.
Key Highlights
- 1AEP issued $1 billion in senior notes on November 29, 2018.
- 2The debt issuance comprises $400 million of 3.65% Senior Notes due 2021.
- 3The debt issuance also includes $600 million of 4.30% Senior Notes due 2028.
- 4The net proceeds from the offering are intended for general corporate purposes.
- 5These general corporate purposes include the repayment of short-term indebtedness.
- 6Barclays Capital Inc. and Morgan Stanley & Co. LLC served as the representatives for the underwriters.