Hunton Andrews Kurth Advises on American Electric Power Company, Inc.’s At-the-Market Program with a Forward Component

Time 2 Minute Read
November 6, 2020
News

Hunton Andrews Kurth LLP advised the sales agents in connection with American Electric Power Company, Inc.’s (AEP) commencement of an at-the-market program to sell up to an aggregate offering price of $1 billion of AEP’s common stock from time to time through either the sales agents or forward counterparties, who will, at AEP’s request, borrow from third parties.

AEP, based in Columbus, Ohio, operates and maintains the nation’s largest electricity transmission system and more than 227,000 miles of distribution lines to efficiently deliver safe, reliable power to nearly 5.4 million regulated customers in 11 states. AEP also is one of the nation’s largest electricity producers with approximately 26,000 megawatts of diverse generating capacity, including approximately 2,856 megawatts of renewable energy. 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 and east Texas).

The Hunton Andrews Kurth team included Bud Ellis, Steven Friend, Joseph Buonanno, Patrick Jamieson, Michelle Chan and Mae JiRobert McNamara and Tim Strother provided tax advice. 

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