Investor Relations

Bond Disclaimer

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DISTRICT OF COLUMBIA WATER AND SEWER AUTHORITY
RECENT BOND ISSUANCES
$350 MILLION GREEN CENTURY BONDS
SERIES 2014A � FEDERALLY TAXABLE, SENIOR LIEN

AND

$100 MILLION TAX-EXEMPT SUBORDINATE LIEN VARIABLE RATE MULTIMODAL REVENUE BONDS

DC Water issued $350 million in taxable, green century bonds July 10, 2014. The 100 year final maturity represents the first municipal century bond issued by a water/wastewater utility in the United States. It also represents DC Water�s inaugural green bond issue and the first �certified� green bond in the US debt capital markets with an independent second party sustainability opinion. Favorable market conditions and strong investor demand enabled DC Water to upsize the transaction by $50 million from an initial offering size of $300 million. The century bonds were offered at an interest rate of 4.814% with a final maturity of 2114.

The proceeds from these bonds will be used to finance a portion of the construction and development of the tunnel systems associated with the DC Clean Rivers Project (See Clean Rivers Project). The final maturity of the bonds will be October 1, 2114 (100 years). The underwriters of this issuance were Goldman, Sachs & Co. and Barclays.

These senior lien bonds are rated by Moody�s Investor�s Service (Aa2), Standard & Poor�s (AA+) and Fitch Ratings (AA).

DC Water also issued $100 million of tax-exempt, subordinate lien, variable-rate demand bonds on July 22, 2014, bringing the total sale to $450 million. The underwriters for the variable-rate bonds were BofA/ Merrill Lynch and Loop Capital Markets.

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



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