Aqua America Issues Bonds for Capex Plan

Aqua America’s subsidiary Aqua Pennsylvania has issued $141m of mortgage bonds to fund the expansion of the US state of Pennsylvania’s water infrastructure and to pay off debts.

The water utility is to use the bond proceeds to finance part of the company’s $1.5bn multi-year capital plan to enhance the delivery infrastructure in Pennsylvania and to refinance $44m of existing debt.

Aqua America and its subsidiaries serve three million people in the states of Florida, Georgia, Illinois, Indiana, Maine, Missouri, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Texas and Virginia.