Public Service Co. of Oklahoma offers series L senior notes

Chicago, Jan. 3 – Public Service Co. of Oklahoma is selling fixed-rate series L senior notes, according to a 424B5 filing with the Securities and Exchange Commission on Tuesday morning.

There will be an optional make-whole call until 20 months before the maturity date. For the final 20 months, the notes will be callable at par.

CIBC World Markets Corp., Credit Agricole Securities (USA) Inc., Truist Securities, Inc., and Wells Fargo Securities, LLC are the joint bookrunners for the deal.

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

The utility is using in-house counsel for the offering. The underwriters are relying on Hunton Andrews Kurth LLP for legal counsel.

Proceeds will be used to fund the issuer’s construction program and for other general corporate purposes. Other purposes may include redeeming or repurchasing outstanding debt and replenishing working capital.

The issuer is a Tulsa, Okla.-based public utility subsidiary of American Electric Power Co., Inc., which is a Columbus, Ohio-based electricity provider.

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