California public power utility SMUD on May 28 announced that it plans to issue approximately $300 million of Electric Revenue Bonds and Subordinated Electric Revenue Bonds during June 2025.
The bonds will be spread across several separate series, including approximately $200 million of Green Bonds with a second party opinion provided by Kestrel.
The preliminary official statements and/or official statements for the bonds are or will be available at smud.org/investors and at munios.com.
SMUD currently anticipates that the bonds will be priced and sold on June 10, 2025, with priority given to California individual retail investors. Pricing and sale, however, could occur earlier or later depending upon market conditions.
SMUD anticipates that the proceeds of the bonds will be used for various purposes including to finance and refinance certain additions and improvements to its electric system, to pay the outstanding principal of its commercial paper notes, and to refund certain outstanding obligations of SMUD.
The sale of the bonds will be managed by Barclays Capital Inc.
