American Electric Power’s $805 Million Equity Units Offering


Simpson Thacher represented American Electric Power Company, Inc. (NYSE: AEP) in connection with its registered offering of 16,100,000 Equity Units (representing the exercise in full of the underwriters’ over-allotment option), which resulted in gross proceeds of $805 million.

AEP intends to use the net proceeds from the Equity Units to support its overall capital expenditure plans, including a recently announced contracted renewables transaction.

AEP, based in Columbus, Ohio, operates and maintains the nation’s largest electricity transmission system and nearly 220,000 miles of distribution lines to deliver power to nearly 5.4 million regulated customers in 11 states. AEP also is one of the nation’s largest electricity producers with approximately 32,000 megawatts of diverse generating capacity, including more than 4,300 megawatts of renewable energy.

The Simpson Thacher team included Brian E. Rosenzweig (Picture), Matt Hart, Brandon Barton, Richard Ragusa and Dylan Benac (Capital Markets); Rob Holo, Marcy Geller and Tyler Robbins (Tax); and Jeanne Annarumma (Executive Compensation and Employee Benefits).

Involved fees earner: Jeanne Annarumma – Simpson Thacher & Bartlett; Brandon Barton – Simpson Thacher & Bartlett; Dylan Benac – Simpson Thacher & Bartlett; Marcy Geller – Simpson Thacher & Bartlett; Matthew Hart – Simpson Thacher & Bartlett; Robert Holo – Simpson Thacher & Bartlett; Richard Ragusa – Simpson Thacher & Bartlett; Tyler Robbins – Simpson Thacher & Bartlett; Brian Rosenzweig – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: American Electric Power Company, Inc.;

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Author: Ambrogio Visconti