STOCK TITAN

AMERICAN ELECTRIC POWER COMPANY, INC. TO REDEEM SENIOR NOTES

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
American Electric Power Company, Inc. (AEP) announced the redemption of its Floating Rate Notes, Series A, due 2023. The $600 million principal amount will be redeemed at 100% of the outstanding principal plus interest. The redemption is in accordance with the terms of the indenture. AEP is a power company based in Columbus, Ohio, with a focus on sustainability and renewable energy.
Positive
  • American Electric Power Company, Inc. (AEP) will redeem its Floating Rate Notes, Series A, due 2023 on Aug. 30, 2023. The $600 million principal amount will be redeemed at 100% of the outstanding principal, which is $100 per Senior Note. This redemption is in accordance with the terms of the indenture under which the notes were issued.
Negative
  • None.

COLUMBUS, Ohio, July 31, 2023 /PRNewswire/ -- American Electric Power Company, Inc. (Nasdaq: AEP), announced that on Aug. 30, 2023, it will redeem the entire outstanding $600 million principal amount of its Floating Rate Notes, Series A, due 2023 (CUSIP NO. 025537 AS0). The notes will be redeemed at 100 percent of the principal amount outstanding (at par value of $100 per Senior Note), plus interest through the date of redemption.

Notice of the redemption was delivered on July 31, 2023. This redemption is in accordance with the terms of the indenture under which the notes were issued.

The Bank of New York Mellon Trust Company, N.A. is the Trustee.

American Electric Power, based in Columbus, Ohio, is powering a cleaner, brighter energy future for its customers and communities. AEP's approximately 17,000 employees operate and maintain the nation's largest electricity transmission system and more than 225,000 miles of distribution lines to safely deliver reliable and affordable power to 5.6 million regulated customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 30,000 megawatts of diverse generating capacity, including more than 7,000 megawatts of renewable energy. The company's plans include growing its renewable generation portfolio to approximately 50% of total capacity by 2032. AEP is on track to reach an 80% reduction in carbon dioxide emissions from 2005 levels by 2030 and has committed to achieving net zero by 2045. AEP is recognized consistently for its focus on sustainability, community engagement, and diversity, equity and inclusion. AEP's family of companies includes utilities AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana, east Texas and the Texas Panhandle). AEP also owns AEP Energy, which provides innovative competitive energy solutions nationwide. For more information, visit aep.com

(PRNewsfoto/American Electric Power)

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/american-electric-power-company-inc-to-redeem-senior-notes-301889598.html

SOURCE American Electric Power

FAQ

What is American Electric Power Company, Inc. (AEP)?

AEP is a power company based in Columbus, Ohio, that operates and maintains the nation's largest electricity transmission system. It serves 5.6 million regulated customers in 11 states and is focused on sustainability and renewable energy.

What is the redemption date for AEP's Floating Rate Notes, Series A, due 2023?

The redemption date is Aug. 30, 2023.

How much will AEP redeem the notes for?

AEP will redeem the notes at 100% of the outstanding principal amount, which is $600 million.

What is the par value of the Senior Notes?

The par value of the Senior Notes is $100 per note.

Who is the Trustee for the notes?

The Bank of New York Mellon Trust Company, N.A. is the Trustee for the notes.

American Electric Power Company, Inc.

NASDAQ:AEP

AEP Rankings

AEP Latest News

AEP Stock Data

52.76B
532.29M
0.04%
80.75%
1.4%
Utilities - Regulated Electric
Electric Services
Link
United States of America
COLUMBUS