WSSC – 2022 Refunding

Wye River Group served as WSSC’s independent financial advisor for this transaction which closed on May 4, 2022.

$702,467,000
Washington Suburban Sanitary Commission (Maryland)
Convertible Consolidated Public Improvement Refunding Bonds of 2022, Series A, B, C & D

Introduction

Established in 1918, the Washington Suburban Sanitary Commission (WSSC) is among the largest water and wastewater utilities in the nation, serving 1.8 million residents of Prince George’s and Montgomery Counties through approximately 475,000 customer accounts.

Wye River Group has served as financial advisor to WSSC in connection with its financing, planning and debt implementation needs since 2016. To date, we have assisted in implementing eleven bond issues totaling more than $3.2 billion.

 

Financing Overview

The Convertible CPI Refunding Bonds of 2022 refinanced the Commission’s Series 2014, Series 2014 (2nd Series), and Series 2015 Bonds. The Bonds were issued in four series purchased by four commercial banks with rates committed for 20+ years. The Commission achieved an aggregate interest cost in the high-2% range achieving significant debt service savings.

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