By Chris Wack
The Department of Water and Power of the City of Los Angeles plans to sell $812.7 million of power system revenue bonds to help finance capital improvements.
The Series 2025 C bonds will also be used to refund certain outstanding bonds of the department payable from its power revenue fund, according to documents posted on MuniOS.
Interest will be payable on Jan. 1 and July 1 starting in 2026. The bonds mature from 2030 through 2055.
The securities will be special obligations of the department, payable only from its power revenue fund.
The Department of Water and Power of the City of Los Angeles is the largest municipal utility in the U.S., and provides electric service through its power system and water service through its water system in an area consisting almost entirely of the City of Los Angeles.
Moody's gave the bonds an Aa2 rating, and Fitch rated them AA-.
Wells Fargo Bank, Ramirez & Co., and Siebert Williams Shank are listed as lead managers on the offering.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
September 22, 2025 12:18 ET (16:18 GMT)
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