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AEP Transmission plans to offer senior notes via five bookrunners
By Marisa Wong
Los Angeles, March 30 – AEP Transmission Co., LLC plans to price senior notes, series M, according to a 424B5 filing with the Securities and Exchange Commission.
Goldman Sachs & Co. LLC, KeyBanc Capital Markets Inc., MUFG, SMBC Nikko Securities America Inc. and U.S. Bancorp Investments Inc. are the joint bookrunners.
Proceeds will be used for general corporate purposes relating to AEP’s utility business, including construction costs, and to repay outstanding advances from affiliates. AEP estimates that its construction costs in 2020 will be about $1.43 billion. At March 25, the company had roughly $355 million in advances from affiliates outstanding.
Columbus, Ohio-based AEP Transmission is an electric utility and a division of American Electric Power Co., Inc.
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