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Analysis of APS's Expenses for Offering $950M Notes

Arizona Public Service Company (APS) | August 12, 2025

By Quinn Adams

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Arizona Public Service Company (APS) disclosed the expenses related to offering $250,000,000 of 5.70% Notes due 2034 and $700,000,000 of 5.90% Notes due 2055.

The estimated expenses include SEC registration fees, printing, engraving, postage expenses, legal fees, accounting fees, rating agency fees, and more.

These expenses are vital for investors to understand the costs associated with APS's recent offerings.

Offering Amount

$950,000,000 - $250M of 5.70% Notes due 2034 and $700M of 5.90% Notes due 2055.

Expense Breakdown

Detailed breakdown of expenses including legal, accounting, and registration fees.

  • Understanding the expenses helps investors gauge APS's financial commitment and operational costs for the note offerings.
  • The transparency in disclosing these expenses fosters trust and transparency in APS's financial operations.

APS's transparent disclosure of expenses showcases a commitment to financial clarity and responsible operations. Investors can now make informed decisions based on the disclosed cost structure.