By Andrea Heisinger
New York, April 13 - California Water Service Co. priced $100 million 5.875% 10-year first mortgage bonds Monday at par, according to a press release from the company and an FWP filing with the Securities and Exchange Commission.
The deal was announced on April 8.
The notes are non-callable.
Robert W. Baird & Co. was the bookrunner.
The notes are guaranteed by parent company California Water Service Group.
Proceeds will be used to pay down outstanding short-term borrowings, with the remainder added to general funds.
The water service company is based in San Jose, Calif.
| Issuer: | California Water Service Co.
|
| Guarantor: | California Water Service Group
|
| Issue: | First mortgage bonds
|
| Amount: | $100 million
|
| Maturity: | May 1, 2019
|
| Bookrunner: | Robert W. Baird & Co.
|
| Coupon: | 5.875%
|
| Price: | Par
|
| Yield: | 5.875%
|
| Call: | Non-callable
|
| Trade date: | April 13
|
| Settlement date: | April 17
|
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