American Water Works Company has completed the sale of Homeowner Services Group to investment holding company Apax Partners for $1.275 billion. American Water Works Company received $485 million in cash and $720 million in debt securities with a 7% interest rate and a five-year maturity. The company will also receive another $75 million, subject to reaching certain milestones by the end of 2023. This deal structure allows the company to reallocate cash proceeds to fund short-term water and wastewater projects.