This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

American Water Announces Expiration And Final Results Of Notes Tender Offer

American Water Works Company, Inc. (NYSE: AWK) (“American Water”), the largest publicly traded U.S. water and wastewater utility company, today announced the expiration and final results of its previously announced cash tender offer (the “Tender Offer”) by its wholly owned subsidiary, American Water Capital Corp. (“AWCC”), to purchase for cash up to $300,000,000 aggregate principal amount of outstanding 6.085% Senior Notes due 2017 (the “Notes”). The Tender Offer was made on the terms and subject to the conditions set forth in the Offer to Purchase (the “Offer to Purchase”), dated Sept. 10, 2013, and the related Letter of Transmittal.

As of 11:59 p.m., New York City time, on Oct. 7, 2013 (the “Expiration Date”), $225,800,000 in aggregate principal amount of the Notes, representing approximately 30.1% of the aggregate outstanding principal amount of the Notes, was validly tendered and not validly withdrawn. The Company has accepted for purchase all Notes that were validly tendered and not validly withdrawn as of the Expiration Date. Payment for the Notes so purchased is expected to be made today, and the Notes so purchased will be cancelled.

"This tender offer enables us to meaningfully reduce our expected exposure to the capital markets in 2017," said William D. Rogers, Vice President and Treasurer, American Water.

As previously announced, holders who validly tendered and did not withdraw their Notes at or prior to 5:00 p.m., New York City time, on Sept. 23, 2013 (the "Early Tender Date"), will receive the Total Consideration (as defined in the Offer to Purchase) of $1,174.47 per $1,000 principal amount of Notes tendered, which includes an Early Tender Premium (as defined in the Offer to Purchase), for any Notes accepted for purchase. Holders who validly tendered (and did not validly withdraw) Notes after the Early Tender Date but at or prior to the Expiration Date will receive the Tender Offer Consideration (as defined in the Offer to Purchase) of $1,144.47 per $1,000 principal amount of Notes tendered, which is equal to the Total Consideration minus the Early Tender Premium, for any Notes accepted for purchase.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,047.08 -51.37 -0.30%
S&P 500 1,998.63 -4.74 -0.24%
NASDAQ 4,587.6710 +7.40 0.16%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs