On September 14, 2026, American Water Works Company, Inc. disclosed that its wholly owned finance subsidiary, American Water Capital Corp. (AWCC), agreed to sell $500.0 million in aggregate principal amount of 5.550% Senior Notes due 2033. The offering was executed pursuant to an underwriting agreement dated September 14, 2026, involving PNC Capital Markets LLC, Mizuho Securities USA LLC, RBC Capital Markets, LLC, and U.S. Bancorp Investments, Inc. as representatives of the underwriters.
The Notes are registered under the Securities Act and benefit from a support agreement originally dated June 22, 2000, and amended on July 26, 2000. They were issued pursuant to an indenture dated December 4, 2009, with Computershare Trust Company, N.A., acting as trustee.
The offering closed on September 16, 2026. After deducting underwriting discounts and offering expenses, AWCC received net proceeds of approximately $496.6 million. The company stated its intention to use these funds for the following purposes:
- To repay $250.0 million in aggregate principal amount of its outstanding 3.000% senior notes maturing on December 1, 2026.
- To lend funds to American Water and its subsidiaries within the Regulated Businesses segment.
- To repay a portion of its outstanding commercial paper obligations.
- For general corporate purposes.
