AEP To Redeem Junior Subordinated Debentures

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Nov 08, 2012, 07:31 ET

COLUMBUS, Ohio, Nov. 8, 2012 /PRNewswire/ -- American Electric Power (NYSE: AEP) today announced that on Dec. 19, 2012, it will redeem the entire outstanding $315,000,000 principal amount of unsecured 8.75% Junior Subordinated Debentures, at a redemption price equal to 100% of the principal amount, plus accrued interest thereon to the date of redemption, and a make-whole premium which will be determined three business days prior to the redemption date.

Notice of the redemption is expected to be mailed Nov. 8, 2012. The redemption is in accordance with the terms of the indenture under which the Junior Subordinated Debentures were issued.

The Bank of New York Mellon Trust Company, N.A. is the redemption agent and trustee.

SOURCE American Electric Power