American Water Works Company, Inc. 8-K

What Happened American Water Works Company, Inc. reported that its wholly owned finance subsidiary, American Water Capital Corp. (AWCC), agreed to sell $500 million aggregate principal amount of 4.625% Senior Notes due 2029 under an underwriting agreement dated May 18, 2026. The offering closed on May 20, 2026, and AWCC received approximately $498.0 million in net proceeds after underwriting discounts (before offering expenses). The Notes benefit from a Support Agreement provided by American Water.

Key Details

• Offering size: $500 million principal amount of 4.625% Senior Notes due 2029.
• Net proceeds: approximately $498.0 million (after underwriting discounts, before offering expenses).
• Use of proceeds: to repay a portion of AWCC’s 3.625% exchangeable senior notes due 2026 at maturity; to repay a portion of AWCC’s outstanding commercial paper; and for general corporate purposes.
• Underwriting and closing: Underwriting agreement dated May 18, 2026; closing occurred May 20, 2026; bookrunners included BofA Securities, RBC Capital Markets and Wells Fargo Securities. The Notes were issued under AWCC’s existing indenture.

Why It Matters This transaction raises near-term cash to meet maturing debt and commercial paper needs and extends part of AWCC’s debt maturity profile to 2029 at a 4.625% coupon. The Support Agreement from American Water means the company has formally supported the Notes, and the funds will be used to reduce upcoming 2026 obligations and for general corporate purposes—key facts for investors monitoring liquidity and upcoming maturities.