AEP Subsidiary Ohio Power To Redeem Senior Notes
COLUMBUS, Ohio, July 22, 2013 /PRNewswire/ -- Ohio Power Company, a public utility subsidiary of American Electric Power (NYSE: AEP), today announced that on Aug. 12, 2013, it will redeem the entire outstanding $225 million principal amount of its 6.375 percent Senior Notes, Series I, due 2033. The notes will be redeemed at 100 percent of the principal amount outstanding (at par value of $100 per Senior Note) plus interest through the date of redemption.
Notice of the redemption was mailed July 12, 2013. This redemption is in accordance with the terms of the indenture under which the notes were issued.
Deutsche Bank Trust Company Americas is the redemption agent and trustee.
American Electric Power is one of the largest electric utilities in the United States, delivering electricity to more than 5.3 million customers in 11 states. AEP ranks among the nation's largest generators of electricity, owning nearly 38,000 megawatts of generating capacity in the U.S. AEP also owns the nation's largest electricity transmission system, a 40,000-mile network that includes more 765 kilovolt extra-high voltage transmission lines than all other U.S. transmission systems combined. AEP's transmission system directly or indirectly serves about 10 percent of the electricity demand in the Eastern Interconnection, the interconnected transmission system that covers 38 eastern and central U.S. states and eastern Canada, and approximately 11 percent of the electricity demand in ERCOT, the transmission system that covers much of Texas. AEP's utility units operate as 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). AEP's headquarters are in Columbus, Ohio.
SOURCE American Electric Power