Pure Cycle (NASDAQ:PCYO) announced that Sky Ranch Community Authority Board (Sky Ranch CAB) successfully completed a $21.9 million municipal bond refinancing. The refinancing resulted in $10.1 million net proceeds after repaying 2019 Bonds and expenses. The 2024 Bonds include $18.585 million in tax-exempt senior bonds and $3.307 million in subordinate bonds. Pure Cycle received $10.1 million as partial reimbursement for public improvements at the Sky Ranch Master Planned Community. The total municipal bonds issued by Sky Ranch CAB now amount to $51.4 million, reflecting the community’s strong performance.
Pure Cycle (NASDAQ:PCYO) ha annunciato che il Consiglio della Sky Ranch Community Authority (Sky Ranch CAB) ha completato con successo un rifinanziamento di obbligazioni municipali da 21,9 milioni di dollari. Il rifinanziamento ha portato a 10,1 milioni di dollari di proventi netti dopo il rimborso delle obbligazioni del 2019 e le spese. Le obbligazioni del 2024 includono 18,585 milioni di dollari in obbligazioni senior esenti da tasse e 3,307 milioni di dollari in obbligazioni subordinate. Pure Cycle ha ricevuto 10,1 milioni di dollari come parziale rimborso per i miglioramenti pubblici nella Sky Ranch Master Planned Community. Il totale delle obbligazioni municipali emesse da Sky Ranch CAB ammonta ora a 51,4 milioni di dollari, a testimonianza delle buone performance della comunità.
Pure Cycle (NASDAQ:PCYO) anunció que la Junta de la Autoridad Comunitaria de Sky Ranch (Sky Ranch CAB) completó con éxito un refinanciamiento de bonos municipales de 21,9 millones de dólares. El refinanciamiento resultó en 10,1 millones de dólares en ingresos netos después de pagar los bonos de 2019 y los gastos. Los Bonos de 2024 incluyen 18,585 millones de dólares en bonos senior exentos de impuestos y 3,307 millones de dólares en bonos subordinados. Pure Cycle recibió 10,1 millones de dólares como reembolso parcial por mejoras públicas en la Comunidad Planificada de Sky Ranch. El total de bonos municipales emitidos por Sky Ranch CAB ahora asciende a 51,4 millones de dólares, reflejando el buen desempeño de la comunidad.
Pure Cycle (NASDAQ:PCYO)는 Sky Ranch Community Authority Board (Sky Ranch CAB)가 총 2억 1900만 달러의 지방채 재융자를 성공적으로 완료했다고 발표했습니다. 이 재융자는 2019년 채권과 비용을 상환한 후 1010만 달러의 순이익을 가져왔습니다. 2024년 채권에는 1억 8585만 달러의 면세 선순위 채권과 3307만 달러의 후순위 채권이 포함되어 있습니다. Pure Cycle은 Sky Ranch 마스터 플랜 커뮤니티의 공공 개선에 대한 부분 환급으로 1010만 달러를 받았습니다. Sky Ranch CAB가 발행한 총 지방채는 현재 5천140만 달러에 달하며, 이는 지역사회의 강력한 성과를 반영합니다.
Pure Cycle (NASDAQ:PCYO) a annoncé que le Conseil de l’Autorité Communautaire de Sky Ranch (Sky Ranch CAB) a réussi à achever un refinancement d’obligations municipales de 21,9 millions de dollars. Le refinancement a généré 10,1 millions de dollars de produits nets après le remboursement des obligations de 2019 et des frais. Les obligations de 2024 comprennent 18,585 millions de dollars d’obligations seniors exonérées d’impôt et 3,307 millions de dollars d’obligations subordonnées. Pure Cycle a reçu 10,1 millions de dollars comme remboursement partiel pour les améliorations publiques de la communauté planifiée de Sky Ranch. Le total des obligations municipales émises par Sky Ranch CAB s’élève désormais à 51,4 millions de dollars, ce qui reflète la solide performance de la communauté.
Pure Cycle (NASDAQ:PCYO) gab bekannt, dass der Vorstand der Sky Ranch Community Authority (Sky Ranch CAB) erfolgreich eine Refinanzierung kommunaler Anleihen in Höhe von 21,9 Millionen US-Dollar abgeschlossen hat. Die Refinanzierung führte zu 10,1 Millionen US-Dollar Nettoprofits nach der Rückzahlung der Anleihen von 2019 und der Kosten. Die Anleihen von 2024 umfassen 18,585 Millionen US-Dollar in steuerfreien Senior-Anleihen und 3,307 Millionen US-Dollar in nachrangigen Anleihen. Pure Cycle erhielt 10,1 Millionen US-Dollar als Teilrückerstattung für öffentliche Verbesserungen in der Sky Ranch Master Planned Community. Die insgesamt von Sky Ranch CAB emittierten kommunalen Anleihen belaufen sich nun auf 51,4 Millionen US-Dollar, was die starke Leistung der Gemeinschaft widerspiegelt.
Positive
- Received $10.1 million reimbursement from bond refinancing
- Successfully placed bonds at competitive low rates despite fluctuating market
- Total municipal bonds issued reached $51.4 million, indicating strong community performance
- Strong demand reported for entry-level houses at Sky Ranch
Insights
The
The company’s vertical integration across water services, land development and rental properties creates multiple revenue streams and operational synergies. This refinancing provides immediate capital that can be reinvested into ongoing development phases, potentially accelerating growth and future reimbursements. The continued strong demand for entry-level housing at Sky Ranch suggests sustainable development momentum despite broader market challenges.
DENVER, CO / ACCESSWIRE / October 30, 2024 / Pure Cycle Corporation (NASDAQ Capital Market:PCYO) is pleased to announce that Sky Ranch Community Authority Board (Sky Ranch CAB) successfully closed its municipal bond refinancing totaling
The Sky Ranch CAB, a political subdivision and a public corporation of the State of Colorado responsible for the construction, design and financing of the public improvements at Pure Cycle’s development site known as the Sky Ranch Master Planned Community (Sky Ranch). The Sky Ranch CAB engaged underwriter DA Davidson to refinance their 2019 Bonds within Sky Ranch Metropolitan District No. 1. The Sky Ranch CAB successfully sold tax-exempt, fixed rate, investment grade senior bonds in the aggregate principal amount of
“The CAB’s underwriter successfully placed the bonds in a fluctuating bond market at competitively low rates. This bond offering brings the total municipal bonds issued by the Sky Ranch CAB, net of refinance amounts, to
Company Information
Pure Cycle continues to grow and strengthen its operations, grow its balance sheet, and drive recurring revenues. We operate in three distinct business segments, each of which complements the other. At our core, we are an innovative and vertically integrated wholesale water and wastewater service provider. In 2017, we launched our land development segment which develops master planned communities on land we own and to which we provide water and wastewater services. In 2021, we launched our newest line of business, the rental of single-family homes located at Sky Ranch, which provides long-term recurring revenues, furthers our land development operations, and adds more customers to our water resource segment.
Additional information, including our recent press releases and SEC filings, is available at www.purecyclewater.com, or you may contact our President, Mark W. Harding, or our CFO, Marc Spezialy, at 303-292-3456 or info@purecyclewater.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are all statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect or anticipate will or may occur in the future, such as statements about the following: our positioning to continue to grow through this market cycle; the completion and delivery of our rental units; timing of development at Sky Ranch; future tap sales and revenues; future home sales by our home builder customers; the affordability of our products; the strength of the Sky Ranch market; forecasts about our fiscal 2024 sales of water to oil and gas operators; our sales of lots; and our expected financial results. The words “anticipate,” “likely,” “may,” “should,” “could,” “will,” “believe,” “estimate,” “expect,” “plan,” “intend” and similar expressions are intended to identify forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties that could cause actual results to differ materially. Factors that could cause actual results to differ from projected results include, without limitation: home mortgage interest rates, inflation, and other factors impacting the housing market and home sales; the risk factors discussed in Part I, Item 1A of our most recent Annual Report on Form 10-K for the fiscal year ended August 31, 2023; and those factors discussed from time to time in our press releases, public statement and documents filed or furnished with the U.S. Securities and Exchange Commission. Except as required by law, we disclaim any obligation to update publicly any forward-looking statements, whether because of new information, future events or otherwise.
SOURCE: Pure Cycle Corporation
View the original press release on accesswire.com
FAQ
How much did Pure Cycle (PCYO) receive from Sky Ranch CAB’s bond refinancing in October 2024?
Pure Cycle received $10.1 million as partial reimbursement for public improvements from Sky Ranch CAB’s bond refinancing.
What is the total value of the Sky Ranch CAB 2024 Bonds for Pure Cycle (PCYO)?
The 2024 Bonds total $21.9 million, consisting of $18.585 million in tax-exempt senior bonds and $3.307 million in subordinate bonds.
What is the total amount of municipal bonds issued by Sky Ranch CAB for Pure Cycle (PCYO)?
The total municipal bonds issued by Sky Ranch CAB, net of refinance amounts, is $51.4 million.