American Water Capital to sell $75 million of notes due 2038

By Andrea Heisinger

New York, Jan. 16 - American Water Capital Corp. announced Friday it will price $75 million senior monthly notes due 2038, according to an S-1 filing with the Securities and Exchange Commission.

The notes will be due Dec. 1, 2038 and are callable at par on or after Dec. 1, 2013.

The notes feature a change-of-control put of 101%.

Edward Jones is the bookrunner.

Proceeds will be used to repay short-term debt.

The investor-owned water and wastewater utility company is based in Voorhees, N.J.

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