Pinnacle West Subsidiary Secures $600M in 5.10% Notes Due 2036

summarizeSummary

Pinnacle West Capital Corp's subsidiary, Arizona Public Service Company, completed a $600 million debt offering of 5.10% Notes due 2036, finalizing terms under a previously effective shelf registration.

check_boxKey Events

• Debt Offering Finalized

  Arizona Public Service Company, a subsidiary, finalized an offering of $600,000,000 in 5.10% Notes due 2036, maturing on March 15, 2036.

• Pricing Details

  The notes were priced at 99.790% of the principal amount, resulting in a yield to maturity of 5.127%.

• Underwriting Agreement Executed

  The offering was made pursuant to an underwriting agreement with BofA Securities, J.P. Morgan Securities, Mizuho Securities, RBC Capital Markets, and Scotia Capital.

• Capital for General Purposes

  The proceeds from the offering are designated for general corporate purposes, supporting the company's capital investment plans.

auto_awesomeAnalysis

Pinnacle West Capital Corp's subsidiary, Arizona Public Service Company, has successfully finalized a significant debt offering, securing $600 million through the issuance of 5.10% Notes due 2036. This transaction, priced near par at 99.790%, provides substantial capital for general corporate purposes, including the significant capital investments outlined in the company's recent 10-K filing. The successful placement of these long-term notes at market-aligned terms demonstrates the company's strong access to capital markets and supports its financial stability and ability to fund ongoing infrastructure needs.