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SFPUC reports $988 million bond sale, cites nearly $2 million a year in refunding cash‑flow savings
Summary
Nicholas Klaroff, presenting the results of a bond sale approved May 27, told the San Francisco Public Utilities Commission that the sale raised $988,000,000 and included new money and refunding components.
Nicholas Klaroff, presenting the results of a bond sale approved May 27, told the San Francisco Public Utilities Commission that the sale raised $988,000,000 and included new money and refunding components.
Klaroff said the sale produced $304,000,000 earmarked for local and regional projects, $133,000,000 for Hetch Hetchy and about $555,000,000 of refunding bonds. “It’s especially a pleasure to come bearing good news,” he said, and reported the refunding portion produced cash‑flow savings of “just under $2,000,000 a year in debt service.”
Why it matters: the SFPUC said the refundings and new issuances together have helped reduce the future rate impact of its…
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