AEP Transmission Company, LLC
Overview
| Deal Type |
Debt Capital Markets |
|---|---|
| Size |
$550 Million Senior Notes |
| Client & Transactional Partners |
AEP Transmission Company, LLC |
| Our Role |
Joint Bookrunner |
Summary
On June 9, 2022, AEP Transmission Company, LLC (AEP or the Company) closed on $550 million of Senior Notes due 2052 priced at a spread of T+140 bps for a coupon of 4.500%. The Company intends to use the net proceeds from the offering for general corporate purposes relating to AEP's utility business. KeyBanc Capital Markets acted as Joint Bookrunner on the transaction.
The Company is an indirect wholly-owned subsidiary of American Electric Power Company, Inc. The Company develops and builds new transmission facilities at the request of the regional transmission organizations in which its parent company operates and replaces and upgrades facilities, assets and components of the existing transmission system as needed to maintain reliability standards and provide service to AEP TransCo's parent company's wholesale and retail customers.
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