Citizens Energy Group board approves 2025 bond authorizations, loan applications and slate of officers

The Citizens Energy Group Board of Directors voted unanimously during its annual meeting to authorize management to pursue several bond refundings and new-money issuances for 2025, approve an SRF loan application for a water-main replacement project, renew lines of credit, and adopt a slate of officers and committee appointments for 2025.

The board authorized management to issue and refund debt for gas, thermal and water utilities during calendar year 2025, with the resolution specifying refundings and new-money caps of up to $100,000,000 for gas, up to $70,000,000 for thermal, and up to $235,000,000 for water. The board also approved renewal of three lines of credit that provide working capital and short-term funding: a $25,000,000 line for gas, a $20,000,000 line for thermal and a $15,000,000 line for water; the renewals were described as consistent with previously approved board resolutions.

The board voted to authorize representatives to make application for State Revolving Fund (SRF) loans for the Martin Dale Brightwood Water Main Replacements project. Separately, the CWA Authority, Inc. board approved authorization to issue/refund CWA series bonds in calendar year 2025, including…