---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-041667"
form_type: "8-K"
ticker: "CWT"
cik: "0001035201"
company_name: "CALIFORNIA WATER SERVICE GROUP"
filed_at: "2023-04-05T23:59:59+00:00"
generated_at: "2026-06-17T05:38:59.994345+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# California Water Service Group enters $600M unsecured revolving credit facility, replacing prior facilities

## Summary
- $400M facility for Cal Water subsidiary, $200M for Group; both unsecured, 5-year term expiring March 31, 2028.
- Facilities may be expanded by up to $150M (Cal Water) and $50M (Group) subject to conditions.
- Interest rates: base rate + 0.00%-0.250% or Term SOFR + 0.800%-1.250%, based on consolidated total capitalization ratio.
- Proceeds for working capital and short-term financing of capital investments; replaces prior 2019 credit facilities.
- BofA Securities acted as sole lead arranger; Bank of America, N.A. as administrative agent.

## SEC filing metadata
- accession: 0001104659-23-041667
- form_type: 8-K
- ticker: CWT
- cik: 0001035201
- company_name: CALIFORNIA WATER SERVICE GROUP
- filed_at: 2023-04-05T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1035201/000110465923041667/0001104659-23-041667-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1035201/000110465923041667/tm2311464d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-041667
- JSON: https://secwatch.observer/filing/0001104659-23-041667.json
- Plain text: https://secwatch.observer/filing/0001104659-23-041667.txt

## Key facts
- Debt Financings
  CALIFORNIA WATER SERVICE GROUP incurred revolving credit of $200.0 million unsecured revolving credit facility with Bank of America, N.A. at Term SOFR, plus an applicable margin of 0.800% to 1.250% maturing March 31, 2028.
  - Instrument: revolving credit
  - Principal: $200.0 million unsecured revolving credit facility
  - Counterparty: Bank of America, N.A.
  - Rate: Term SOFR, plus an applicable margin of 0.800% to 1.250%
  - Maturity: March 31, 2028
  - Event: incurrence
  source text: The Holdco Credit Agreement provides for a $200.0 million unsecured revolving credit facility
  evidence_url: https://www.sec.gov/Archives/edgar/data/1035201/000110465923041667/0001104659-23-041667-index.htm
- Debt Financings
  CALIFORNIA WATER SERVICE GROUP incurred revolving credit of $400.0 million unsecured revolving credit facility with Bank of America, N.A. at Term SOFR, plus an applicable margin of 0.800% to 1.250% maturing March 31, 2028.
  - Instrument: revolving credit
  - Principal: $400.0 million unsecured revolving credit facility
  - Counterparty: Bank of America, N.A.
  - Rate: Term SOFR, plus an applicable margin of 0.800% to 1.250%
  - Maturity: March 31, 2028
  - Event: incurrence
  source text: The Opco Credit Agreement provides for a $400.0 million unsecured revolving credit facility
  evidence_url: https://www.sec.gov/Archives/edgar/data/1035201/000110465923041667/0001104659-23-041667-index.htm
- Material Agreements
  CALIFORNIA WATER SERVICE GROUP entered into Opco Credit Agreement with Bank of America, N.A. (as administrative agent on behalf of a syndicate of banks) valued at $400,000,000 unsecured revolving credit facility, expandable by $150,000,000 (effective 2023-03-31).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Bank of America, N.A. (as administrative agent on behalf of a syndicate of banks)
  - Value: $400,000,000 unsecured revolving credit facility, expandable by $150,000,000
  - Effective: 2023-03-31
  source text: On March 31, 2023 (the "Effective Date"), California Water Service Group, a Delaware corporation (the "Registrant"), and California Water Service Company, a California corporation and a wholly-owned subsidiary of the Registrant ("Cal Water"), entered into the Credit Agreements (as defined below), which provide for unsecured revolving credit facilities of up to an initial aggregate amount of $600 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1035201/000110465923041667/0001104659-23-041667-index.htm
- Material Agreements
  CALIFORNIA WATER SERVICE GROUP terminated Prior Credit Facilities with Not specified valued at Replaced the existing credit facilities originally entered into on March 29, 2019 (effective 2023-03-31).
  - Action: termination
  - Agreement: credit facility
  - Counterparty: Not specified
  - Value: Replaced the existing credit facilities originally entered into on March 29, 2019
  - Effective: 2023-03-31
  source text: On March 31, 2023 (the "Effective Date"), California Water Service Group, a Delaware corporation (the "Registrant"), and California Water Service Company, a California corporation and a wholly-owned subsidiary of the Registrant ("Cal Water"), entered into the Credit Agreements (as defined below), which provide for unsecured revolving credit facilities of up to an initial aggregate amount of $600 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1035201/000110465923041667/0001104659-23-041667-index.htm
- Material Agreements
  CALIFORNIA WATER SERVICE GROUP entered into Holdco Credit Agreement with Bank of America, N.A. (as administrative agent on behalf of a syndicate of banks) valued at $200,000,000 unsecured revolving credit facility, expandable by $50,000,000 (effective 2023-03-31).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Bank of America, N.A. (as administrative agent on behalf of a syndicate of banks)
  - Value: $200,000,000 unsecured revolving credit facility, expandable by $50,000,000
  - Effective: 2023-03-31
  source text: On March 31, 2023 (the "Effective Date"), California Water Service Group, a Delaware corporation (the "Registrant"), and California Water Service Company, a California corporation and a wholly-owned subsidiary of the Registrant ("Cal Water"), entered into the Credit Agreements (as defined below), which provide for unsecured revolving credit facilities of up to an initial aggregate amount of $600 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1035201/000110465923041667/0001104659-23-041667-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.