Public Service of Oklahoma offers $800 million of 10- and 30-year green senior notes

By Cristal Cody

Chicago, Aug. 11 – Public Service Co. of Oklahoma is marketing an $800 million two-part offering of 10- and 30-year green senior notes, according to a 424B5 filing and details from a source.

The utility is planning to sell $400 million of notes due Aug. 15, 2031, talked with a spread in the Treasuries plus 110 basis points to 115 bps area.

A second $400 million tranche is expected with a maturity of Aug. 15, 2051 and has spread talk in the Treasuries plus 135 bps area.

Credit Agricole CIB, SMBC Nikko Securities America Inc., KeyBanc Capital Markets Inc., PNC Capital Markets LLC and Wells Fargo Securities LLC are leading the sale.

Credit Agricole and SMBC Nikko are green structuring agents.

Co-managers are BOK Financial Securities, Inc., Academy Securities and Cabrera Capital Markets LLC.

Bank of New York Mellon Trust Co., NA is the trustee.

The company used in-house counsel for its legal opinions. Hunton Andrews Kurth LLP is advising the underwriters.

Proceeds will be used to fund the company’s construction program or for other general corporate purposes relating to its utility business.

Public Service of Oklahoma is an electric utility company based in Tulsa.

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