Paulo Trevisani
The Southeast Alabama Energy Authority plans to issue $600 million in bonds to acquire natural gas and electricity.
The Corporation and the Capital Improvement Cooperative District will issue Series 2024A bonds to prepay 30 years from Aaron Energy Prepay 36 LLC, which will be purchased from J. Aaron & Co., a commodity trading arm of Goldman Sachs. announced that it was planned. In a document posted to MuniOs on Tuesday.
The bonds are tax-exempt and have a fixed interest rate, with a final maturity scheduled for November 2035.
There was no coupon or yield information. The bonds will be paid for by SEA’s proceeds.
SEA serves as a wholesale supplier of electricity and natural gas to its members and other government-owned wholesale customers. It is a sister entity to the Southeastern Alabama Gas Distribution District. Both have performed prepaid transactions before.
Goldman Sachs & Co. and Stifel, Nicolaus & Co. are the underwriters.
Moody’s Investors Service assigned the bonds a Baa1 municipal bond rating.
Email Paulo Trevisani at paulo.trevisani@wsj.com.
(Ended) Dow Jones News
October 30, 2024 14:41 ET (18:41 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
Source link
