American Water Closes $100 Million Private Placement of First Mortgage Bonds.VOORHEES, N.J. -- American Water Works Company, Inc. (NYSE NYSE See: New York Stock Exchange :AWK (Aho Weinberger Kernighan) A Unix programming utility developed in 1977 by Alfred Aho, Peter Weinberger and Brian Kernighan. Due to its unique pattern-matching syntax, awk is often used in data retrieval and data transformation. ), the largest investor-owned U.S. water and wastewater utility company, today announced that its operating subsidiary An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. , New Jersey American Water New Jersey American Water is the largest water utility in the U.S. State of New Jersey, serving over two million people in 176 communities throughout the state, primarily in Central Jersey and South Jersey. , closed its private offering of $75 million in aggregate principal amount of its 6.35% First Mortgage Bonds due 2039 and $25 million in aggregate principal amount of its 5.48% First Mortgage Bonds due 2019. "New Jersey American Water will use the proceeds principally to pay down short-term debt Short-term debt Debt obligations, recorded as current liabilities, requiring payment within the year. ," said John Bigelow, president of New Jersey American Water. "Reducing short-term debt provides us further financial flexibility to invest in our infrastructure so that we can continue to provide high-quality reliable service to our customers." This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Founded in 1886, American Water is the largest investor-owned U.S. water and wastewater utility company. With headquarters in Voorhees, N.J., the company employs more than 7,000 dedicated professionals who provide drinking water drinking water supply of water available to animals for drinking supplied via nipples, in troughs, dams, ponds and larger natural water sources; an insufficient supply leads to dehydration; it can be the source of infection, e.g. leptospirosis, salmonellosis, or of poisoning, e.g. , wastewater and other related services to approximately 15 million people in 32 states and Ontario, Canada. More information can be found by visiting www.amwater.com. |
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