Southern California Metropolitan Water eyes $250 million revenue bonds

By Sheri Kasprzak

New York, Dec. 7 – The Metropolitan Water District of Southern California is set to price $250 million of series 2015A water revenue bonds, according to a preliminary official statement.

The bonds (Aa1/AAA/AA+) will be sold on a negotiated basis with RBC Capital Markets LLC and U.S. Bancorp Investments Inc. as the lead managers. The co-managers are Siebert Brandford Shank & Co. LLC and Ramirez & Co. Inc.

The maturities have not been set.

Proceeds will be used to finance the construction and expansion of water improvements.

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