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Eastern Municipal Water, Calif., preps $71.46 million revenue offering
By Sheri Kasprzak
New York, May 28 – The Eastern Municipal Water District Financing Authority of California is set to price $71.46 million of series 2015B water and wastewater revenue refunding bonds, according to a preliminary official statement.
The bonds (Aa3/AA-/AA) will be sold on a negotiated basis with BofA Merrill Lynch as the senior manager and Citigroup Global Markets Inc. and Stifel, Nicolaus & Co. Inc. as the co-managers.
The bonds are due 2039 to 2046.
Proceeds will be used to finance capital improvements, including well development, improvements to distribution facilities and other projects, as well as to refund existing debt.
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