Aqueduct and Sewer Authority Accesses Capital Markets Once Again
The commonwealth government announced today the successful placement of bonds of the Aqueduct and Sewer Authority (PRASA). According to an official press release, the measure will refinance Series A and B bonds of the public corporation.
This is the second time since December 2020 that PRASA accessed capital markets to seek substantial annual reductions in debt service.
The commonwealth carried out the financing process through a series of transactions to generate proceeds to pay debt.
Previously issued refunding and a debt issuance with proceeds that will be received in June 2022 to redeem part of 2012 bonds will generate approximately $570 million in debt service savings, according to the official statement.