Arizona Public Service to refinance $76.85 million bonds due 2034

By Angela McDaniels

Tacoma, Wash., May 3 – Arizona Public Service Co. plans to use the proceeds of a note offering to refinance $76.85 million of pollution control revenue refunding bonds due June 1, 2034 issued through the Arizona Pollution Control Corp., according to a 424B3 filing with the Securities and Exchange Commission.

Specifically, the company plans to refinance via redemption or cancellation at par its debt related to $12.85 million of Coconino County series 2009A bonds, $32 million of Navajo County series 2009D bonds and $32 million of Navajo County series 2009E bonds.

Arizona Public Service is an electric utility and a subsidiary of Pinnacle West Capital Corp. Both are based in Phoenix.

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