By Lisa Kerner
Charlotte, N.C., July 6 - SJW Corp. announced it sold $50 million total principal amount of 4.35% senior notes in a private placement transaction to an institutional investor.
The notes mature on June 30, 2021.
"The credit worthiness of SJW Corp. coupled with a historically low interest rate environment presented us with the opportunity to secure funding for our future financing needs at a very attractive price," president and chief executive officer W. Richard Roth said in a news release.
SJW Corp. is a San Jose, Calif.-based holding company for subsidiaries that provide water service and SJW Land Co., which owns and operates commercial real estate investments.
| Issuer: | SJW Corp.
|
| Issue: | Senior notes
|
| Amount: | $50 million
|
| Maturity: | June 30, 2021
|
| Coupon: | 4.35%
|
| Distribution: | Private placement
|
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