United States - American Electric Power (AEP) has received an underwriting commitment for a $1.5 billion revolving credit facility.
AEP said the credit line will replace a $2.5 billion facility that matures in May 2003. The new line was provided by Citibank and JP Morgan Chase Bank.
The new facility, combined with an existing $1 billion facility that extends to May 2005, and euro facilities that expire in October 2003, provides $2.8 billion to support AEP¹s commercial paper and other short-term cash needs.