New Issue: AEP Transmission sells $550 million 4.5% 30-year senior notes Treasuries plus 140 bps

By Devika Patel

Knoxville, Tenn., June 7 – AEP Transmission Co., LLC priced $550 million of 4.5% 30-year series O senior notes (A2/A-/A) on Tuesday at 99.363 to yield 4.539%, or 140 basis points over Treasuries, according to an FWP filed with the Securities and Exchange Commission.

J.P. Morgan Securities LLC, KeyBanc Capital Markets Inc., Scotia Capital (USA) Inc., Truist Securities Inc. and U.S. Bancorp Investments Inc. were the bookrunners.

Proceeds will be used for general corporate purposes.

The subsidiary of American Electric Power Co. Inc. is based in Columbus, Ohio.

Issuer:	AEP Transmission Co., LLC
Amount:	$550 million
Issue:	Series O senior notes
Maturity:	June 15, 2052
Bookrunners:	J.P. Morgan Securities LLC, KeyBanc Capital Markets Inc., Scotia Capital (USA) Inc., Truist Securities Inc. and U.S. Bancorp Investments Inc.
Co-managers:	Drexel Hamilton LLC, Fifth Third Securities Inc., Huntington Investment Co. and Loop Capital Markets LLC
Trustee:	Bank of New York Mellon Trust Co., NA
Counsel to issuer:	In-house
Counsel to underwriters:	Hunton Andrews Kurth LLP
Coupon:	4.5%
Price:	99.363
Yield:	4.539%
Spread:	140 bps over Treasuries
Call:	Make-whole call at Treasuries plus 25 bps until Dec. 15, 2051, then a par call
Trade date:	June 7
Settlement date:	June 9
Ratings:	Moody’s: A2
	S&P: A-
	Fitch: A
Distribution:	SEC registered
Cusip:	00115AAP4

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