Missouri Electric Commission to Sell $105 Million of Refunding Bonds

By Stephen Nakrosis

The Missouri Joint Municipal Electric Utility Commission plans to sell $105 million in power project revenue refunding bonds.

The Commission, which does business as the Missouri Electric Commission, will use proceeds from the offering to refund previously issued bonds and to pay issuance costs.

The tax-exempt bonds are not subject to redemption before their respective stated maturity dates, a document posted Tuesday on MuniOS said. Maturity dates begin on Jan. 1, 2026 and continue through Jan. 1, 2034. The bonds are expected to price on Sept.17 with delivery on Oct. 3, according a roadshow presentation on MuniOS.

The bonds will be secured with revenues received from the Plum Point Project, the Commission said. The Plum Point facility is located in Arkansas, and the Commission is entitled to about 150MW of capacity, which it assigns to its members in Missouri.

The bonds have been rated A3 with a stable outlook by Moody's Investors Service and A with a stable outlook by Fitch Ratings.

RBC Capital Markets is listed as the offering's senior manager.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

September 11, 2024 15:42 ET (19:42 GMT)

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