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SFPUC refinancing reduces water enterprise debt-service costs by $56.2 million, staff say
Summary
Finance staff reported that a 2025 refunding transaction produced about $56.2 million in future ratepayer savings and that taxable bonds were largely converted to tax-exempt debt, improving flexibility, officials said.
SFPUC finance staff reported on May 20 that a recent multi-part refunding produced about $56.2 million in estimated future ratepayer savings and an average all-in interest cost of about 3.28 percent, and that green bonds were included as part of the transaction.
Nikolai Sklaroff, who presented the sale results, told the commission the refunding transaction totaled roughly $523 million and used a two-day order period (day one for retail orders, day two for…
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