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- The Notes Are Not Guaranteed By Any of the Support Provider’s Subsidiaries and Are the Obligations Only of the Issuer, and of the Support Provider, By Virtue of the Support Agreement. (new) — Noteholders rely solely on a finance subsidiary and its parent, whose obligations are effectively subordinated to all subsidiary liabilities, increasing credit risk.
American Water Capital Corp. offers senior notes with parent support; net proceeds $250M to repay debt and fund operations
Filed September 14, 2026 · ~1 min read
Key Changes
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American Water Capital Corp. (AWCC), a finance subsidiary of American Water Works Company, Inc., is offering senior notes supported by a parent support agreement.
The Offering verify on EDGAR → -
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Net proceeds to the company are $250 million, which will be used to repay $250M of 3.000% Senior Notes due Dec 1, 2026, lend to regulated businesses, repay commercial paper, and for general corporate purposes.
Use of Proceeds verify on EDGAR → -
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The notes are not guaranteed by any subsidiaries; repayment depends on the support provider's ability to make payments, which is structurally subordinated to subsidiary obligations.
Risk Factors verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Figures/quotes linked to EDGAR · Narrative written by AI · Sep 15, 2026 · How we verify