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SFPUC approves $150 million letter of credit and dealer agreements for wastewater commercial paper program
Summary
The commission approved a form of credit facility with Sumitomo Mitsui Banking Corporation (up to $150 million) and dealer agreements with Citigroup, Morgan Stanley and U.S. Bank to support the wastewater commercial paper program; staff said terms are competitive and the facility supports interim financing for wastewater CIP.
The San Francisco Public Utilities Commission on Feb. 14 approved a credit facility and associated dealer agreements that support the wastewater commercial paper program.
Eric Sandler, the commission’s CFO, said the requested documents include an irrevocable letter of credit and…
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