Hunton Andrews Kurth LLP acted as counsel to the underwriters on an SEC-registered offering of $1.375 billion aggregate principal amount of Series 2026-A Senior Secured SAC Bonds by Appalachian Power Recovery Funding LLC, a special purpose entity, wholly-owned by Appalachian Power Company (APCo), as sponsor, depositor and initial servicer. The bonds were sold pursuant to a financing order issued by the State Corporation Commission of the Commonwealth of Virginia. The bond proceeds will be used to purchase the securitized asset cost property from APCo. In accordance with the financing order, APCo will use the proceeds to proceeds to recover certain storm restoration costs and Virginia jurisdictional area share of undepreciated Amos and Mountaineer plant balances.

The Hunton team included Michael F. Fitzpatrick, Jr., Adam O’Brian, Josh Van Kirk, and Matthew Hayes. Jason W. Harbour assisted with certain bankruptcy advice; Johnathon Schronce and Kate Perkins assisted with certain constitutional law matters; Leslie A. Okinaka provided ERISA advice; and George Howell, Anna Page, and Sarah Colborn provided tax advice.