By Kenneth Lim
Boston, May 19 - American Water Capital Corp. closed a $50 million private placement of 10- and 20-year senior unsecured notes, according to a press release.
The offering comprised $24.5 million of 7.21% senior unsecured notes due 2019 and $25.5 million of 8.27% senior unsecured notes due 2039.
Proceeds will be used to repay short-term debt.
American Water Capital is the financing subsidiary of Voorhees, N.J.-based American Water Works Co., Inc., a water and wastewater utility company.
| Issuer: | American Water Capital Corp.
|
| Issue: | Senior unsecured notes
|
| Settlement: | May 18
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| Distribution: | Private placement
|
|
|
| Ten-year notes
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| Amount: | $24.5 million
|
| Maturity: | 2019
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| Coupon: | 7.21%
|
|
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| Twenty-year notes
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| Amount: | $25.5 million
|
| Maturity: | 2039
|
| Coupon: | 8.27%
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