Pinnacle West Capital prices $500 million of 4.650% senior notes due 2029

Filed June 2, 2026 · ~2 min read

Key Changes

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  Pinnacle West Capital Corporation is offering $500 million of 4.650% senior notes due June 1, 2029, with semi-annual interest payments beginning December 1, 2026.

  The Offering verify on EDGAR →
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  The notes are unsecured obligations of the holding company only, not guaranteed by operating subsidiaries. Noteholders are structurally subordinated to all creditors of subsidiaries, including trade payables and subsidiary debt.

  Risk Factors verify on EDGAR →
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  The indenture lacks protective covenants: no change-of-control put, no financial maintenance ratios, no limits on additional debt or subsidiary debt issuance, and no restrictions on dividends or stock repurchases.

  Risk Factors verify on EDGAR →