American Water Works offers $75M in notes

Voorhees-based American Water Works Co. Inc. said today that its financing subsidiary, American Water Capital Corp., completed a public offering of $75 million worth of 8.25 percent senior monthly notes, which are due in 2038.

American Water completed a similar debt offering Nov. 26.

The U.S. water and wastewater utility company said it would use the net proceeds to repay short-term debt.

Company shares were priced at $20.88, down 18 cents (0.85 percent), in midmorning trading on the New York Stock Exchange.