AEP Transmission Company, LLC: debt financing — AEP Transmission closes $1.6B DOE-guaranteed loan for grid upgrades

AEP Transmission Company, LLC

DOE-guaranteed loan up to $1.604B to reconductor ~5,000 miles of transmission lines in IN, MI, OH, OK, WV.
Loan matures April 15, 2055; interest at UST rate + 0.375%, payable semiannually starting April 2026.
Proceeds used solely for eligible project costs; $6.68M in fees paid to DOE and advisors at closing.
Agreement includes customary covenants and events of default; DOE may accelerate all amounts on default.

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

AEP Transmission Company, LLC incurred term loan of $1,604,409,000 with Federal Financing Bank at U.S. Treasury rate plus a spread equal to 0.375% maturing April 15, 2055.

Instrument: term loan
Principal: $1,604,409,000
Counterparty: Federal Financing Bank
Rate: U.S. Treasury rate plus a spread equal to 0.375%
Maturity: April 15, 2055
Event: incurrence

Exact text from the filing

Company, LLC (the “Company”), a wholly owned subsidiary of American Electric Power Company, Inc. (“AEP”), for a loan facility of an aggregate principal amount of up to $1.6 billion through the DOE’s Energy Infrastructure Reinvestment Program (the “DOE Loan Program”) to be arranged by the DOE and extended by the Federal Financing Bank (the “FFB”). On October

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Source: SEC EDGAR

accession 0001702494-25-000023

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