Hunton Andrews Kurth Advises on American Electric Power’s $805 Million Junior Subordinated Debentures Remarketing

Hunton Andrews Kurth LLP advised the remarketing agents on an SEC-registered offering by American Electric Power Company, Inc. (AEP) of $805 million aggregate principal amount of 2.031% Junior Subordinate Debentures due 2024. This is a remarketing of $805 million aggregate principal amount of AEP’s 3.40% Junior Subordinated Debentures due 2024, that were originally issued in March 2019 as components of Equity Units (initially consisting of Corporate Units) sold by AEP.

AEP is one of the largest investor-owned public utility holding companies in the United States. AEP provides, directly or indirectly, generation, transmission and distribution services to over five million retail customers in eleven states (Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia) through their electric utility operations. AEP’s portfolio of assets includes approximately 24,000 megawatts of owned generating capacity, approximately 40,000 miles of transmission lines, and approximately 223,000 miles of distribution lines.

The Hunton Andrews Kurth team included Steven C. Friend, Brendan P. Harney, Michelle G. Chan and Reuben H. Pearlman. Robert J. McNamara and Tim Strother provided tax advice. Leslie A. Okinaka provided ERISA advice.