WMMPA prices $322 million of bonds
The Western Minnesota Municipal Power Agency (WMMPA) will close Oct. 29 on more than $322 million in taxable power supply refunding bonds. This sale will be used to refinance existing tax-exempt bonds that WMMPA issued primarily to finance the construction of the Red Rock Hydroelectric Project that is being built in Iowa along with other projects.
Western Minnesota Municipal Power Agency Announces Details of Plan to Sell Taxable Refunding Bonds
| Posted in: News Releases
Western Minnesota Municipal Power Agency (“Western Minnesota”) plans to price approximately $320 million of taxable fixed-rate bonds the week of October 14, 2019 through a negotiated sale. Proceeds of the sale will primarily be used to refund a portion of certain of Western Minnesota’s outstanding Power Supply Revenue Bonds. The sale will be led by book-running senior manager Citigroup, with J.P. Morgan and Wells Fargo serving as co-managers. A Preliminary Official Statement is expected to be available the week of October 7.
Moody’s affirms Western Minnesota Municipal Power Agency financial rating
| Posted in: News Releases
Moody’s Investors Service has affirmed its Aa3 rating with a stable outlook for the Western Minnesota Municipal Power Agency (WMMPA). WMMPA provides financing for and is the owner of electric generation, transmission, and other facilities that are used by Missouri River Energy Services (MRES) to serve its 61 member municipal electric systems in the states of Iowa, Minnesota, North Dakota, and South Dakota.
Upper Midwest utilities to study transmission grid in light of ambitious carbon reduction goals
| Posted in: News Releases
CapX2020 utilities say electric grid must have resilience and capacity to meet changing generation mix.