ARIZONA PUBLIC SERVICE CO: debt financing — Pinnacle West upsizes revolving credit facility to $300M; APS facility to $1.7B

ARIZONA PUBLIC SERVICE CO

Pinnacle West's new $300M unsecured credit facility replaces $200M facility, matures Feb 2031.
APS's $1.7B unsecured facility replaces $1.25B facility, matures Feb 2031.
2026 incentive plan approved for CEO Geisler (target 125% of salary, max 250%).
Executive awards for Cooper, Tetlow, Heflin tied to APS earnings and unit performance goals.
Facilities support general corporate purposes and commercial paper backstop.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

ARIZONA PUBLIC SERVICE CO amended revolving credit of up to $300 million with Barclays Bank PLC, PNC Bank, National Association, Wells Fargo Bank, National Association, Bank of America, N.A., JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd., MUFG Bank, Ltd., Truist Bank at based on Pinnacle West's then-current senior unsecured debt ratings maturing February 18, 2031.

Instrument: revolving credit
Principal: up to $300 million
Counterparty: Barclays Bank PLC, PNC Bank, National Association, Wells Fargo Bank, National Association, Bank of America, N.A., JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd., MUFG Bank, Ltd., Truist Bank
Rate: based on Pinnacle West's then-current senior unsecured debt ratings
Maturity: February 18, 2031
Event: amendment

Exact text from the filing

Mizuho Bank, Ltd., MUFG Bank, Ltd., and Truist Bank, as Co-Documentation Agents and Issuing Banks, allowing Pinnacle West to borrow, repay and reborrow, from time to time, up to $300 million through February 18, 2031. The Third Amended and Restated Facility replaces Pinnacle West’s prior $200 million second amended and restated revolving credit facility, which would

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

ARIZONA PUBLIC SERVICE CO amended revolving credit of up to $1.7 billion with Barclays Bank PLC, PNC Bank, National Association, Wells Fargo Bank, National Association, Bank of America, N.A., JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd., MUFG Bank, Ltd., Truist Bank at based on APS's then-current senior unsecured debt ratings maturing February 18, 2031.

Instrument: revolving credit
Principal: up to $1.7 billion
Counterparty: Barclays Bank PLC, PNC Bank, National Association, Wells Fargo Bank, National Association, Bank of America, N.A., JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd., MUFG Bank, Ltd., Truist Bank
Rate: based on APS's then-current senior unsecured debt ratings
Maturity: February 18, 2031
Event: amendment

Exact text from the filing

N.A., Mizuho Bank, Ltd., MUFG Bank, Ltd., and Truist Bank, as Co-Documentation Agents and Issuing Banks, allowing APS to borrow, repay and reborrow, from time to time, up to $1.7 billion through February 18, 2031. The Amended and Restated Facility replaces APS’s prior $1.25 billion revolving credit facility, which would have expired on April 10, 2028. APS will

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ARIZONA PUBLIC SERVICE CO entered into Amended and Restated Facility with the Lenders party thereto, Barclays Bank PLC, as Agent and Issuing Bank, PNC Bank, National Association, as Co-Syndication Agent and Issuing Bank, Wells Fargo Bank, National Association, as Co-Syndication Agent and Issuing Bank, Bank of America, N.A., JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd., MU valued at $1.7 billion (effective 2026-02-18).

Action: entry
Agreement: credit facility
Counterparty: the Lenders party thereto, Barclays Bank PLC, as Agent and Issuing Bank, PNC Bank, National Association, as Co-Syndication Agent and Issuing Bank, Wells Fargo Bank, National Association, as Co-Syndication Agent and Issuing Bank, Bank of America, N.A., JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd., MU
Value: $1.7 billion
Effective: 2026-02-18

Exact text from the filing

On February 18, 2026, APS entered into an amended and restated five-year unsecured revolving credit facility (the “Amended and Restated Facility”) among APS, the Lenders party thereto, Barclays Bank PLC, as Agent and Issuing Bank, PNC Bank, National Association, as Co-Syndication Agent and Issuing Bank, Wells Fargo Bank, National Association, as Co-Syndication Agent and Issuing Bank, Bank of America, N.A., JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd., MUFG Bank, Ltd., and Truist Bank, as Co-Documentation Agents and Issuing Banks, allowing APS to borrow, repay and reborrow, from time to time, up to $1.7 billion through February 18, 2031.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ARIZONA PUBLIC SERVICE CO entered into Third Amended and Restated Facility with the Lenders party thereto, Barclays Bank PLC, as Agent and Issuing Bank, PNC Bank, National Association, as Co-Syndication Agent and Issuing Bank, Wells Fargo Bank, National Association, as Co-Syndication Agent and Issuing Bank, Bank of America, N.A., JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd., MU valued at $300 million (effective 2026-02-18).

Action: entry
Agreement: credit facility
Counterparty: the Lenders party thereto, Barclays Bank PLC, as Agent and Issuing Bank, PNC Bank, National Association, as Co-Syndication Agent and Issuing Bank, Wells Fargo Bank, National Association, as Co-Syndication Agent and Issuing Bank, Bank of America, N.A., JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd., MU
Value: $300 million
Effective: 2026-02-18

Exact text from the filing

On February 18, 2026, Pinnacle West entered into a third amended and restated five-year unsecured revolving credit facility (the “Third Amended and Restated Facility”) among Pinnacle West, the Lenders party thereto, Barclays Bank PLC, as Agent and Issuing Bank, PNC Bank, National Association, as Co-Syndication Agent and Issuing Bank, Wells Fargo Bank, National Association, as Co-Syndication Agent and Issuing Bank, Bank of America, N.A., JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd., MUFG Bank, Ltd., and Truist Bank, as Co-Documentation Agents and Issuing Banks, allowing Pinnacle West to borrow, repay and reborrow, from time to time, up to $300 million through February 18, 2031.

View on SEC.gov

Browse all debt financings →

Source: SEC EDGAR

accession 0001104659-26-017605

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.