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DISTRICT OF COLUMBIA WATER AND SEWER AUTHORITY
ISSUES NEW BONDS
$377.7 MILLION OF PUBLIC UTILITY SUBORDINATE LIEN REVENUE BONDS
On October 21, 2014, DC Water successfully priced $377.7 million of its Public Utility Subordinate Lien Revenue Refunding Bonds, Series 2014C. The primary purpose of this transaction was to advance refund a portion of the Authority's outstanding debt for debt service savings and to current refund a series of outstanding floating rate notes in advance of their mandatory put date. The advance refunding generated in excess of $50 million in gross debt service savings for DC Water's ratepayers over the life of the bonds. In present value (PV) terms, the transaction generated over $35 million (or 10%) in PV savings.
The underwriters for this issuance are Goldman, Sachs & Co, Loop Capital markets, Morgan Stanley, Siebert Brandford Shank & Co. L.L.C, TD Securities and US Bancorp.
What can you find in this section?
- Series 2014C Official Statement
- 2014C Seventeenth Supplement (PDF 283 kb)
- DC Water Master Indenture (PDF 1.2 mb)
- Independent Registered Municipal Advisor Letter (PDF 85 kb)
- Frequently Asked Questions
- Engineering Feasibility Report 2013 (PDF 5.7 mb)
- How To Buy DC Water Bonds
Municipal Securities Rulemaking Board
To protect investors, municipal entities and the public interest by promoting a fair and efficient municipal market, regulating firms that engage in municipal securities and advisory activities, and promoting market transparency.
- DC Water Debt Policy and Guidelines (PDF 406 kb)