Issuer: | AEP Texas Inc. | |
Expected Ratings*: | Baa1 (negative) by Moody’s Investors Service, Inc. A- (stable) by S&P Global Ratings | |
Designation: | Senior Notes, Series H, due 2050 | |
Principal Amount: | $450,000,000 | |
Maturity: | January 15, 2050 | |
Coupon: | 3.45% | |
Interest Payment Dates: | January 15 and July 15 | |
First Interest Payment Date: | July 15, 2020 | |
Treasury Benchmark: | 2.25% due August 15, 2049 | |
Treasury Yield: | 2.175% | |
Reoffer Spread: | T+130 basis points | |
Yield to Maturity: | 3.475% | |
Price to Public: | 99.532% of the principal amount thereof | |
Transaction Date: | December 3, 2019 | |
Settlement Date: | December 5, 2019 (T+2) | |
Redemption Terms: | ||
Make-whole call: | Prior to July 15, 2049 at a discount rate of the Treasury Rate plus 20 basis points | |
Par call: | On or after July 15, 2049 at par | |
Minimum Denomination: | $2,000 and integral multiples of $1,000 in excess thereof | |
CUSIP/ISIN: | 00108W AK6/US00108WAK62 | |
Joint Book-Running Managers: | BNP Paribas Securities Corp. Credit Agricole Securities (USA) Inc. MUFG Securities Americas Inc. Scotia Capital (USA) Inc. | |
Co-Managers: | BBVA Securities Inc. SMBC Nikko Securities America, Inc. TD Securities (USA) LLC |