California Water Service Group prices $275 million in senior unsecured notes and first mortgage bonds
CWT•California Water Service Group priced $275 million in debt, including $125 million in senior unsecured notes and $150 million in subsidiary Cal Water’s first mortgage bonds. The private placements are expected to close by December 31, 2026, with proceeds planned for refinancing existing debt and general corporate purposes.
1. Debt placement terms
California Water Service Group priced $125 million in senior unsecured notes: $75 million at 6.08% due December 15, 2031, and $50 million at 6.41% due December 15, 2036. Subsidiary Cal Water priced $150 million in first mortgage bonds: $50 million at 6.49% maturing December 15, 2046, and $100 million at 6.54% maturing December 15, 2056.
2. Proceeds and closing
The private placements are expected to close by December 31, 2026, subject to customary closing conditions. Both issuers plan to use net proceeds to refinance existing indebtedness and for general corporate purposes.
