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PUC reports strong bond sale for WESIP, low interest rates promised long‑term savings
Summary
Deputy CFO Charles Pearl reported a successful WESIP bond sale (Series A/B/C) that brought favorable blended rates (around 3.84%) on June 9 and will fund roughly half of the previously approved $950 million issuance, producing estimated savings for ratepayers over 30 years.
Deputy Chief Financial Officer Charles Pearl told the commission that the fourth sale of WESIP bonds — part of an overall financing program to fund the Water Enterprise system improvements — drew strong market demand and produced historically low interest rates.
Pearl said the June 9 sale of roughly $489 million included three series: approximately $57 million for the Automated Metering…
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