American Water Capital Corp Prices $900M 3.625% Exchangeable Senior Notes
Portfolio Pulse from Benzinga Newsdesk
American Water Capital Corp (AWCC), a subsidiary of American Water Works Company (NYSE: AWK), has priced $900 million of 3.625% Exchangeable Senior Notes due 2026 in a private placement. The sale is expected to settle on June 29, 2023, resulting in approximately $888.8 million in net proceeds to AWCC.
June 27, 2023 | 7:25 am
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American Water Works' subsidiary, AWCC, has priced $900 million of 3.625% Exchangeable Senior Notes due 2026, with the sale expected to settle on June 29, 2023, resulting in approximately $888.8 million in net proceeds.
The pricing of the Exchangeable Senior Notes by AWCC, a subsidiary of American Water Works, is a financing activity that will result in approximately $888.8 million in net proceeds. This news is relevant to AWK as it is the parent company of AWCC. However, the short-term impact on the stock price is neutral as the news is related to a financing activity and not directly to the company's operations or financial performance.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100