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Analysis of Issuance and Distribution Expenses for APS

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

By Paula Scott

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Arizona Public Service Company (APS) discloses the expenses related to the offering of its 5.70% Notes due 2034 and 5.90% Notes due 2055.

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

These expenses are crucial components in the issuance and distribution process for APS.

Offering Details

APS plans to offer $250,000,000 in 5.70% Notes due 2034 and $700,000,000 in 5.90% Notes due 2055.

Expense Breakdown

The disclosed expenses cover a wide range, including legal, accounting, and registration fees.

Regulatory Compliance

The fees and expenses reflect APS's commitment to regulatory compliance and financial transparency.

  • The detailed breakdown of expenses provides insight into the costs associated with issuing securities.
  • Investors can use this information to assess the financial planning and management of APS.

Understanding the expenses involved in issuance and distribution is essential for investors evaluating APS's financial operations and transparency. The disclosed breakdown enhances transparency and facilitates informed investment decisions for stakeholders.