Arizona Public Service to sell notes through four bookrunners

By Devika Patel

Knoxville, Tenn., Feb. 26 – Arizona Public Service Co. is planning to price an offering of dollar-denominated notes, according to a 424B3 filed with the Securities and Exchange Commission.

The notes will have a make-whole call and then are callable at par.

Barclays, Mizuho Securities USA Inc., SunTrust Robinson Humphrey Inc. and Wells Fargo Securities LLC are the bookrunners. KeyBanc Capital Markets Inc. is the senior co-manager, and Drexel Hamilton and Penserra Securities LLC are the co-managers.

Proceeds will be used along with other borrowings to pay at maturity the company’s $500 million of 8.75% notes due March 1, 2019.

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

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