Hunton Advises on Southwestern Electric Power Company’s $1.4B Offering of Senior Notes
Hunton Andrews Kurth LLP advised the underwriters on an SEC-registered offering by Southwestern Electric Power Company (SWEPCo) of $300 million aggregate principal amount of 5.30% Senior Notes, Series P, due 2033 (the Series P Notes), $600 million aggregate principal amount of 5.20% Senior Notes, Series Q, due 2036, and $500 million aggregate principal amount of 5.90% Senior Notes, Series R, due 2056. The offering of the Series P Senior Notes constituted a reopening of senior notes originally issued on March 30, 2023.
SWEPCo is a subsidiary of American Electric Power Company, Inc., a public utility holding company. SWEPCo is engaged in the generation, sale, purchase, transmission, and distribution of electric power to approximately 552,000 retail customers in northeast Texas and the panhandle of Texas, northwest Louisiana, and western Arkansas. It supplies and markets electric power at wholesale to other electric utilities, municipalities, rural electric cooperatives, and other market participants.
The Hunton team included Steven C. Friend, Jingyi “Alice” Yao, and Jack W. Chatas. Robert McNamara, William Freeman, and David Kamins provided tax advice.
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