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Artesian Water gets 4.24% interest rate lock agreement on two bonds
By Devika Patel
Knoxville, Tenn., Nov. 10 – Artesian Water Co., Inc. entered into an interest rate lock agreement with CoBank, ACB to refinance the company’s series O and series Q first mortgage bonds at a lower interest rate, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The Nov. 7 agreement allows for a maturity period of 20 years and a 4.24% interest rate for both series of bonds, effective through Jan. 20, 2017.
The issuer is the principal subsidiary of Artesian Resources Corp., a water utility is based in Newark, Del.
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