New Issue: AEP Transmission completes $625 million of notes due 2026, 2047

By Devika Patel

Knoxville, Tenn., Oct. 4 – AEP Transmission Co., LLC sold $625 million of senior notes in two tranches, including an add-on to its 3.1% senior notes due 2047, on Sept. 28, according to an 8-K filed with the Securities and Exchange Commission.

AEP priced a $500 million reopening of its 3.1% 30-year notes. The company originally sold $300 million of the notes on Nov. 21, 2016. The total outstanding now is $425 million.

The company also sold $500 million of 3.75% 30-year fixed-rate notes.

Citigroup Global Markets Inc., Mizuho Securities USA LLC and MUFG Securities Americas Inc. were the bookrunners.

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

Issuer:	AEP Transmission Co., LLC
Amount:	$625 million
Description:	Senior notes
Bookrunners:	Citigroup Global Markets Inc., Mizuho Securities USA LLC and MUFG Securities Americas Inc.
Co-managers:	BNP Paribas Securities Corp., Goldman Sachs & Co. LLC, PNC Capital Markets LLC, Credit Agricole Securities (USA) Inc., Fifth Third Securities, Inc. and Huntington Investment Co.
Pricing date:	Sept. 25
Settlement date:	Sept. 28
Ratings:	Fitch: A-
Distribution:	Rule 144A and Regulation S
Series D notes
Amount:	$125 million reopening
Maturity:	2026
Coupon:	3.1%
Price:	100.832
Call:	Make-whole call at Treasuries plus 15 bps before Sept. 1, 2026, then at par
Total outstanding:	$425 million, including $300 million issued on Nov. 21, 2016
Series H notes
Amount:	$500 million
Maturity:	Dec. 1, 2047
Coupon:	3.75%
Price:	99.759
Call:	Make-whole call at Treasuries plus 15 bps before June 1, 2047, then at par

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.