Hunton Andrews Kurth Advises Underwriters on $235,282,000 Offering of Senior Secured System Restoration Bonds

Hunton Andrews Kurth LLP acted as counsel to the structuring agent and underwriters on an SEC-registered offering of $235,282,000 aggregate principal amount of System Restoration Bonds (the Bonds) by AEP Texas Restoration Funding LLC, as “Issuing Entity”, a special purpose entity, wholly-owned by AEP Texas Inc. (AEP Texas), as sponsor and depositor. The Bonds were sold pursuant to a financing order issued by the Public Utilities Commission of Texas. The Bond proceeds will be used to purchase transition property from AEP Texas. AEP Texas will use the proceeds to reduce its recoverable distribution-related system restoration costs relating to Hurricane Harvey and other recent storm events.

The Hunton Andrews Kurth team included Michael Fitzpatrick, Adam O’Brian, and Michelle G. Chan. Jason Harbour assisted with certain bankruptcy advice, Eric Nedell assisted with certain UCC/security interest matters, Dain De Souza assisted with U.S. Constitutional matters, and Robert McNamara provided tax advice.