debt
confidence high
sentiment neutral
materiality 0.45
AEP issues $1B in junior subordinated debentures due 2054
AMERICAN ELECTRIC POWER CO INC
- $400M of 7.050% Fixed-to-Fixed Reset Rate Series A Debentures due 2054.
- $600M of 6.950% Fixed-to-Fixed Reset Rate Series B Debentures due 2054.
- Underwriters include Barclays, Citigroup, J.P. Morgan, MUFG, and Scotia.
- Supplemental Indenture No. 6 dated June 20, 2024 establishes terms.
- Opinions on legality and tax matters were provided by company counsel and Simpson Thacher.