American Water Capital plans to price notes in new, reopened tranches

By Aleesia Forni

Virginia Beach, Aug. 10 – American Water Capital Corp. plans to bring a two-part offering of senior notes to market, according to a 424B5 filed with the Securities and Exchange Commission.

The offering will include a tap of the company’s 3.4% senior notes due March 1, 2025, of which $300 million sold at Treasuries plus 100 basis points on Aug. 11, 2014, as well as a tranche of notes due Sept. 1, 2045.

The bookrunners are J.P. Morgan Securities LLC, MUFG, U.S. Bancorp Investments Inc., Wells Fargo Securities LLC, Regions Securities LLC and Santander.

Proceeds will be used to fund the redemption of certain long-term debt, repayment of long-term debt of American Water’s operating subsidiaries and repayment of other commercial paper.

The investor-owned water and wastewater utility company is based in Voorhees, N.J.

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