Hunton Andrews Kurth Advises Underwriters on $336,700,000 Offering of Series 2024-A Senior Secured Storm Recovery Bonds

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January 15, 2025
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Hunton Andrews Kurth acted as counsel to the underwriters on an SEC-registered offering of $336,700,000 aggregate principal amount of Series 2024-A Senior Secured Storm Recovery Bonds (the Bonds) by SWEPCO Storm Recovery LLC, as "Issuing Entity", a special purpose entity, wholly-owned by Southwestern Electric Power Company (“SWEPCO”), as sponsor and depositor. The Bonds were sold pursuant to a financing order issued by the Louisiana Public Service Commission. The Bond proceeds will be used to purchase storm recovery property from SWEPCO. In accordance with the financing order, SWEPCO will use the proceeds to reimburse itself for previously incurred storm recovery costs and to fund a restricted storm recovery reserve.

The Hunton Andrews Kurth team included Michael FitzpatrickAdam O'Brian, Josh Van Kirk and Matthew HayesJason Harbour assisted with certain bankruptcy advice, Shawn Regan and Kate Perkins assisted with certain constitutional law matters and George Howell, Leslie Okinaka, Anna Page and Zachary Roop provided tax advice.

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