SEC Filing Summary: Pinnacle West Capital Corp & Arizona Public Service Company
Business Context and Reporting Period
This Form 8-K is a combined current report filed by Pinnacle West Capital Corporation and its subsidiary, Arizona Public Service Company. The report date is August 7, 2018, with signatures dated August 9, 2018. The filing relates to the execution of a debt offering under a previously effective Registration Statement on Form S-3.
Key Financial Metrics
The filing details a specific capital raising event rather than periodic financial performance metrics such as revenue or operating cash flow.
- Debt Issuance: $300,000,000
- Instrument: 4.20% Notes due 2048
- Transaction Date: August 7, 2018
The filing text does not provide clear values for revenue, profit, margins, or existing liquidity positions.
Material Changes
The material change reported is the execution of an underwriting agreement and the issuance of the new long-term debt notes. This increases the registrants' outstanding debt obligations by $300 million.
Guidance, Outlook, and Risks
The filing does not contain management commentary, forward-looking guidance, or specific risk factors beyond the standard disclosure of the debt issuance. The primary purpose is to disclose the legal documents associated with the offering, including the Underwriting Agreement, Supplemental Indenture, and the Note itself.
Investor Verification Checklist
- Verify the final closing of the $300 million 4.20% Notes due 2048.
- Review the Twenty-Second Supplemental Indenture for covenants and restrictions.
- Confirm the use of proceeds from the offering in subsequent financial reports.
- Check for any underwriting discounts or fees not explicitly detailed in this summary.