AEP SUBSIDIARY AEP TEXAS INC. TO REDEEM SENIOR NOTES
AEP Texas Inc., a subsidiary of American Electric Power (AEP), will redeem $400 million of its 2.40% Senior Notes, Series C, due July 1, 2022.
Sentiment and the balance of points
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Rhea-AI Summary
AEP Texas Inc., a subsidiary of American Electric Power (AEP), will redeem $400 million of its 2.40% Senior Notes, Series C, due July 1, 2022. The notes will be redeemed at 100% of their principal amount, which is $100 per note, plus accrued interest and a make-whole premium.
Notice of this redemption was issued on June 1, 2022, in compliance with the indenture terms. The Bank of New York Mellon Trust Company, N.A. acts as the redemption agent.
Positive
- The $400 million redemption indicates strong financial management and liquidity.
- Redeeming notes at par reflects a stable capital position.
Negative
- None.
Details
News Market Reaction – AEP
The recorded move for AEP in the trading session of this news was +0.01%.
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COLUMBUS, Ohio, June 1, 2022 /PRNewswire/ -- AEP Texas Inc., a public utility subsidiary of American Electric Power (Nasdaq: AEP), announced that on July 1, 2022, it will redeem the entire outstanding
Notice of the redemption was mailed on June 1, 2022. 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 redemption agent and trustee.
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SOURCE American Electric Power
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