American Water Works Enhances Secured Seller Note Terms
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American Water Works Enhances Secured Seller Note Terms

American Water Works (AWK) has released an update to notify the public and investors about an entry into a material definitive agreement.

American Water Enterprises has amended the terms of its Secured Seller Note with Lakehouse Buyer Inc., increasing the principal from $720 million to $795 million and hiking the interest rate from 7% to 10%. The changes, including the elimination of a conditional lender right to demand full repayment, aim to align with the current interest rate climate and provide better credit protection. This restructuring also supports the borrower’s planned acquisition and ensures the continuation of service line protection agreements with the New York City Water Board.

For further insights into AWK stock, check out TipRanks’ Stock Analysis page.

For a comprehensive understanding of the announcement, you can read the full document here.


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