Southwestern Electric Power taps debt market for $750M in senior notes
What's the deal? Southwestern Electric PowerDealroom has a profile for this one. Try Dealroom → has agreed to issue $750 million of 6.00% senior notes due 2037, according to an underwriting agreement entered on September 14, 2026. The debt will be issued under the company's existing indenture, supplemented by a supplemental indenture dated September 16, 2026.
How it works: The notes are scheduled for delivery on September 16, 2026, in fully registered form to The Depository Trust Company in New York. Hunton Andrews Kurth LLP serves as counsel to the underwriters, while Gibson, Dunn & Crutcher LLPDealroom has a profile for this one. Try Dealroom → acts as special tax counsel to the issuer.
What could go wrong? The offering hinges on several completion conditions. Underwriters' commitments depend on a valid Federal Energy Regulatory Commission order authorising the sale, satisfactory legal opinions, and no material adverse change to the company's business or financial condition.
The signal: At $750 million, the raise sits in the upper half of comparable financings, a sizeable draw on fixed-rate debt markets. For a utility, the fixed 6.00% coupon locks in long-term funding costs through 2037 — a bet on stability at a time when infrastructure operators are turning to public debt to fund capital-heavy operations.
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