American Water eyes redeeming notes due 2019, 2022 via new notes

By Wendy Van Sickle

Columbus, Ohio, Aug. 6 – American Water Capital Corp. plans to redeem up to $200 million of its outstanding long-term debt securities due in 2019 and 2022 with proceeds of an offering of senior notes due 2028 and 2048, according to a 424B5 filing with the Securities and Exchange Commission.

The outstanding debt securities have a weighted-average interest rate of 5.7%, according to the filing.

The issuer also plans to use proceeds of the offering to repay its $191.1 million 5.62% senior notes due 2018 upon maturity, to repay commercial paper obligations and for general corporate purposes.

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

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