Voorhees, NJ - September 18, 2006
American Water today announced that its financing subsidiary, American Water Capital Corporation (AWCC), has closed on an $800 million revolving credit facility.
"This revolving credit facility will be used to back up the AWCC commercial paper program, which is the tool that American Water utilizes for its short term credit needs," said Ellen Wolf, senior vice president and chief financial officer for American Water.
JP Morgan Securities Inc. and Citigroup Global Markets Inc. acted as co-lead arrangers and book runners, with an additional eight banks joining the syndicate. The facility is scheduled to mature in 2011.
American Water is a subsidiary of RWE, a leading multinational utility.
With headquarters in Voorhees, NJ, American Water is the largest provider of water services in North America. Employing approximately 7,000 and reporting $2.2 billion in revenue, American Water provides high quality water, wastewater, and other related services to more than 18 million people in 29 states and Canada.