Hunton Andrews Kurth Advises on American Electric Power’s $850 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 $850 million aggregate principal amount of 5.699% Junior Subordinate Debentures due 2025. This is a remarketing of $850 million aggregate principal amount of AEP’s 1.30% Junior Subordinated Debentures due 2025, that were originally issued in August 2020 as components of Equity Units (initially consisting of Corporate Units) sold by AEP.

AEP, based in Columbus, Ohio, is one of the largest investor-owned electric public utility holding companies in the United States, and its electric utility operating companies provide generation, transmission, and distribution services to approximately 5.6 million customers in 11 states. AEP has approximately 225,000 miles of distribution lines, 40,000 circuit miles of transmission lines and approximately 23,500 MWs of regulated owned generating capacity as of December 31, 2022. 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 Steven C. Friend, Brendan P. Harney, Michelle G. Chan and Jingyi “Alice” Yao. Robert J. McNamara, William Freeman and Drew Hermiller provided tax advice. Leslie A. Okinaka provided ERISA advice.