SMUD to issue $350 million in revenue bonds
SMUD proudly announces that it will issue $350 million of revenue bonds, and for the second time in 8 months, it will issue approximately $38 million in green bonds during the week of April 27, 2020.
The preliminary official statement for the Bonds is available at smud.org/investors.
SMUD currently anticipates that the Bonds will be priced and sold during the week of April 27, 2020 and will close on or around May 7, 2020, but a pricing and sale could occur earlier or later depending upon market conditions.
SMUD anticipates that the proceeds of the Bonds will be used to finance and refinance certain additions and improvements to its electric system and to pay a portion of the outstanding principal of its commercial paper notes.
The sale of the Bonds will be managed by Citigroup Global Markets Inc. For more information please contact Trevor Kenska, Wealth Advisor, Citi Personal Wealth Management at (858) 350-0356 or firstname.lastname@example.org.
Ratings/Outlook: S&P: AA (Stable Outlook) / Fitch: AA (Stable Outlook)
Security: The principal of and interest on the 2020 Bonds, together with the debt service on other Parity Bonds, are payable exclusively from and secured by a pledge of the Net Revenues of the Electric System of SMUD. Neither the credit nor the taxing power of SMUD or the State of California is pledged to the payment of the 2020 Bonds.
Green Bonds: 2029 and 2030 maturities will be designated Green Bonds
As the nation’s sixth-largest community-owned, not-for-profit, electric service provider, SMUD has been providing low-cost, reliable electricity for more than 70 years to Sacramento County and small adjoining portions of Placer and Yolo Counties. SMUD is a recognized industry leader and award winner for its innovative energy efficiency programs, renewable power technologies, and for its sustainable solutions for a healthier environment. SMUD’s power mix is about 50 percent non-carbon emitting.