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Arizona Public Service to sell $250 million five-year notes Wednesday
By Aleesia Forni
Virginia Beach, Jan. 7 – Arizona Public Service Co. is eyeing a $250 million sale of senior notes due 2020 on Wednesday, according to an informed source and a 424B3 filed with the Securities and Exchange Commission.
Barclays, SunTrust Robinson Humphrey Inc., TD Securities and Wells Fargo Securities LLC are the bookrunners.
BB&T Capital Markets and PNC Capital Markets LLC are the co-managers.
Proceeds will be used to repay commercial paper borrowings and replenish cash temporarily used to fund capital expenditures.
Arizona Public Service is an electric utility based in Phoenix and a subsidiary of Pinnacle West Capital Corp.
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