SMUD to issue $495 million in revenue bonds
SMUD proudly announces that it plans to issue approximately $495 million of revenue bonds and revenue refunding bonds during the month of June 2023. These bonds will be spread across several separate series, including approximately $200 million of Climate Bond Certified Green Bonds
The preliminary official statements and/or official statements for the bonds are or will be available at smud.org/investors.
SMUD currently anticipates that the first tranche of bonds will be priced and sold on June 6, 2023, with priority expected to be given to California individual retail investors, with additional pricings and sales expected later in June. All pricings and sales, however, could occur earlier or later depending upon market conditions.
SMUD anticipates that the proceeds of the bonds will be used for various purposes including to finance and refinance certain additions and improvements to its electric system, to pay a portion of the outstanding principal of its commercial paper notes, and to refund certain outstanding obligations of SMUD.
The sale of the bonds will be managed by BofA Securities, Inc. and Barclays Capital. For more information please contact Bradford Walker (415) 913-2328, firstname.lastname@example.org or Daniel Rourke (212) 528-1115, Daniel.Rourke@barclays.com.
This news release is provided for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any bonds. Any such offer or solicitation will only be made pursuant to the applicable preliminary official statement and/or official statement that prospective investors should review in entirety before making any investment decision.
As the nation’s sixth-largest, community-owned, not-for-profit electric service provider, SMUD has been providing low-cost, reliable electricity to Sacramento County for more than 75 years. 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. Today, SMUD’s power supply is on average about 50 percent carbon free and SMUD has a goal to reach zero carbon in its electricity production by 2030. For more information on SMUD’s Zero Carbon Plan and its customer programs, visit smud.org.