For Immediate Release
February 28, 2020
The Honolulu Board of Water Supply expects to issue tax-exempt and taxable Water System Revenue Bonds (the “Bonds”) to finance approximately $134.2 million for new money purposes and to potentially advance refund outstanding Water System Revenue Bonds.
The bonds are rated AA+ by Fitch and AAA by S&P, both with Stable Outlooks.
The Bonds are expected to price as early as the week of March 9th through a syndicate led by BofA Securities serving as lead underwriter for the offering with Stifel, Nicolaus & Company as co-manager.
The size, timing, and structure of the anticipated transaction remain subject to market conditions. The Honolulu Board of Water Supply reserves the right to change or modify its plans as it deems appropriate, including, without limitation, by not refunding any outstanding bonds.
There is no guarantee the transaction or structure described in this notice will be consummated. Under no circumstances shall this notice constitute an offer to sell or the solicitation of an offer to buy the Bonds. Any such offer or solicitation will only be made pursuant to an official statement that prospective investors must review before making any investment decision.
Honolulu Board of Water Supply
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