Investor Relations

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DISTRICT OF COLUMBIA WATER AND SEWER AUTHORITY
ANNOUNCES SUCCESSFUL SALE OF
$300 MILLION OF NEW MONEY


On July 23, 2013 the District of Columbia Water and Sewer Authority ("DC Water") announced the successful sale of $300 million of subordinate lien, fixed-rate, tax-exempt new money bonds.

The sale included $300 million of new money bonds. During the one-day order period, DC Water received $594 million of orders. Investor demand during pricing made it possible to reduce yields by one basis point. Final yield-to-call varied by coupon and maturity ranging from 4.85% in 2041 to 5.04% in 2048. The bonds were sold via negotiated sale by DC Water's financing syndicate, led by joint book-running senior managers Barclays and Loop Capital Markets, and co-senior managers BofA Merrill Lynch, Goldman, Sachs & Co., and Ramirez & Co., Inc., and co-managers Jefferies, Lebenthal & Co., LLC, and Raymond James.

The subordinate lien was rated by Moody's Investor Service (Aa3), Standard & Poor's (AA) and Fitch Ratings (AA-).

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