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July 31, 2015 4:54 PM ET

Water Utilities

Company Overview of American Water Capital Corp.

Company Overview

American Water Capital Corp. is a special purpose financing vehicle which issues debt. The company was founded in 2000 and is based in Voorhees, New Jersey. American Water Capital Corp. operates as a subsidiary of American Water Works Company, Inc.

1025 Laurel Oak Road

Voorhees, NJ 08043

United States

Founded in 2000

Phone:

856-346-8201

Fax:

856-346-8360

Key Executives for American Water Capital Corp.

Chief Financial Officer and Senior Vice President
Age: 61
President of American Water Works Service Company and President of American Water Services
Age: 61
President of Western Region
Age: 58
President of Regulated Operations - American Water
Age: 52
President of Missouri American Water Company
Age: 68
Compensation as of Fiscal Year 2015.

American Water Capital Corp. Key Developments

American Water Works Company, Inc. and American Water Capital Corp. Amend and Restate Certain Credit Agreement Dated as of October 29, 2012

On June 30, 2015, American Water Works Company, Inc. and American Water Capital Corp. amended and restated that certain credit agreement, dated as of October 29, 2012, as amended, by and among American Water, AWCC, each of the lenders party thereto, Wells Fargo Bank, National Association, as administrative agent, JPMorgan Chase Bank, N.A., as syndication agent, and Mizuho Bank Ltd. and PNC Bank, National Association, as co-documentation agents, with respect to AWCC's unsecured revolving credit facility. American Water has executed the credit agreement solely to acknowledge and agree that obligations owing by AWCC under the credit agreement will constitute debt under a support agreement between American Water and AWCC, and the credit agreement will contain representations, warranties and covenants that relate to American Water and that a breach of any of those representations or warranties, or a failure by AWCC to comply with such covenants, could result in an event of default under the credit agreement. The amended and restated credit agreement amends the expiration of the term of this credit facility from October 2018 to June 2020. AWCC may request to extend the term of the credit facility for up to two one-year periods. An extension request must satisfy certain conditions and receive approval of the lenders, all as set fourth in the credit agreement. The financial covenants with respect to the credit facility remain unchanged. In the ordinary course of business, certain of the lenders and their respective affiliates have from time to time engaged, and likely will in the future engage, in transactions with, and from time to time have performed services for, and likely will in the future perform services for, AWCC, American Water and their affiliates, for which they received, or will continue to receive, customary fees or compensation. In addition, affiliates of certain of the lenders act as paying agent or dealer under AWCC's commercial paper program.

American Water Announces Expiration and Final Results of Notes Tender Offer

American Water Works Company, Inc. announced the expiration and final results of its previously announced cash tender offer by its wholly owned subsidiary, American Water Capital Corp., to purchase for cash up to $300,000,000 aggregate principal amount of outstanding 6.085% Senior Notes due 2017. The Tender Offer was made on the terms and subject to the conditions set forth in 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.

American Water Capital Corp. Prices Tender Offer for $300 Million of its 6.085% Senior Notes Due 2017

American Water Works Company Inc. announced the consideration payable in respect to the previously announced cash tender offer by its subsidiary, American Water Capital Corp. to purchase for cash up to $300,000,000 aggregate principal amount of outstanding 6.085% Senior Notes due 2017. The Tender Offer is being made on the terms and subject to the conditions set forth in the Offer to Purchase, dated September 10, and the related Letter of Transmittal. American Water Works Company reported that the tender offer is scheduled to expire on October 7, unless extended or earlier terminated. Holders who validly tender Notes after the Early Tender Deadline but at or prior to the Expiration Date will be eligible to receive the Tender Offer Consideration, which is equal to the Total Consideration minus the Early Participation Payment and is set forth. In addition to the Total Consideration or Tender Offer Consideration, as applicable, holders of Notes accepted for payment will receive accrued and unpaid interest from the last interest payment date for the Notes to, but not including, the Payment Date. If the aggregate principal amount of Notes validly tendered exceeds $300,000,000, proration will occur. The Payment Date is expected to occur promptly after the Expiration Date and is expected to be October 8.

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