First Mortgage Bond Offering
Baird served as joint bookrunner of this offering.
AboutCalifornia Water Service Company (“Cal Water”), a wholly-owned subsidiary of California Water Service Group (NYSE: CWT), recently completed an offering for $100,000,000 in aggregate principal amount of 5.500% First Mortgage Bonds due 2040. Cal Water plans to use a portion of the net proceeds from the sale of the bonds to pay down outstanding short-term borrowings. Further, Cal Water plans to add the remainder of the net proceeds to its general funds to be used for general corporate purposes, including capital projects.
California Water Service Group, headquartered in San Jose, California, is a holding company incorporated in Delaware with six operating subsidiaries: California Water Service Company, Washington Water Service Company, New Mexico Water Service Company, Hawaii Water Service Company, Inc., CWS Utility Services and HWS Utility Services. Together these companies provide regulated and non-regulated water service to approximately 2 million people in California, Washington, New Mexico, and Hawaii.
This transaction is Baird's third successful capital-raising engagement with California Water Service Group. The Baird team included our dedicated industry bankers and members of our Fixed Income Capital Markets group.
For additional information about this transaction, please contact:
- November 2010
- California Water Service Company
- Target Location
- North America