LA Utility Returns to Muni Market for First Time Since Wildfires
Los Angeles Fire Department workers inspect a burned vehicle after the Palisades Fire on Jan. 30.
Photographer: Roger Kisby/BloombergThe Los Angeles Department of Water and Power is returning to the municipal bond market with a $1 billion offering, roughly three months after shelving a sale in the immediate wake of historic wildfires that began burning in Southern California on Jan 7.
The power system revenue bonds are set to price for retail investors on April 30, a day before institutional buyers. The department will use proceeds from the sale to ramp up its capital investment program and refinance some outstanding debt.