INDIANA MICHIGAN POWER CO 8-K

What Happened
Indiana Michigan Power Company filed an 8-K (Item 8.01) announcing the offering and sale of $650,000,000 aggregate principal amount of its 5.60% Senior Notes, Series Q, due 2056. The company entered into an underwriting agreement dated February 18, 2026, with CIBC World Markets Corp., SMBC Nikko Securities America, Inc. and TD Securities (USA) LLC as representatives of the underwriters. A Company Order and Officers' Certificate establishing the terms of the Notes was dated February 20, 2026, and The Bank of New York Mellon Trust Company, N.A. is named as trustee.

Key Details

• Offering size: $650,000,000 principal of 5.60% Senior Notes, Series Q, due 2056.
• Coupon/interest rate: 5.60% (implies roughly $36.4M in interest per year on the principal).
• Underwriters: CIBC World Markets Corp., SMBC Nikko Securities America, Inc., and TD Securities (USA) LLC (representatives).
• Documents filed: Underwriting Agreement (Feb 18, 2026), Company Order & Officers' Certificate and form of the Notes (Feb 20, 2026), and an opinion of counsel on legality.

Why It Matters
This filing confirms Indiana Michigan Power has added long-term debt with a fixed coupon and a 2056 maturity, increasing the company’s outstanding indebtedness by $650 million. For investors, the transaction affects the company’s future interest obligations and capital structure; the fixed 5.60% coupon sets known annual interest costs (about $36.4M on the principal) but does not disclose use of proceeds in the filing. The formal documents and counsel opinion were filed as exhibits, completing the legal and underwriting steps for the offering.