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AEP Texas Inc. (NYSE:AEP) disclosed Monday that it has entered into an underwriting agreement for the sale of $900 million in senior notes. The offering consists of $150 million of 5.70% Senior Notes, Series O, due 2034, and $750 million of 5.85% Senior Notes, Series P, due 2055.
According to a statement in a press release, the agreement was made with BMO Capital Markets Corp., BNY Mellon Capital Markets, LLC, RBC Capital Markets, LLC, Scotia Capital (USA) Inc., and U.S. Bancorp Investments, Inc., acting as representatives of the underwriters. The Series O Notes are part of the same series of debt securities previously issued by the company on May 22, 2024. Upon completion of this offering, the total outstanding principal amount of Series O Notes will be $500 million.
The terms of the notes were established in coordination with The Bank of New York Mellon Trust Company, N.A., as trustee. No additional details regarding the use of proceeds or other financial terms were provided in the filing.
This information is based on a statement in an SEC filing made by AEP Texas Inc.
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