YORK WATER CO (YORW): debt financing — York Water issues $40M 5.50% Senior Notes due 2053 to refinance short-term debt and fund capital projects

YORK WATER CO

$40M aggregate principal, 5.50% interest, due February 24, 2053; interest payable semi-annually.
Net proceeds refinance $7.5M of 8.43% Series D Senior Notes retired Dec 2022, plus capital projects and general corporate purposes.
Notes are unsecured, rank pari passu with existing and future unsecured unsubordinated debt.
Covenants: priority debt ≤10% of plant account; funded debt ≤60% of plant account; dividends/stock purchases limited.
Callable at any time with make-whole premium; after Aug 24, 2052 at par; change-in-control put at par.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

YORK WATER CO incurred senior notes of $40 million aggregate principal amount with certain institutional investors at 5.50% maturing February 24, 2053.

Instrument: senior notes
Principal: $40 million aggregate principal amount
Counterparty: certain institutional investors
Rate: 5.50%
Maturity: February 24, 2053
Event: incurrence

Exact text from the filing

On February 24, 2023, The York Water Company (the "Company") entered into a Note Purchase Agreement (the "Note Purchase Agreement") with certain institutional investors (the "Note Purchasers") relating to the private placement of $40 million aggregate principal amount of the Company’s 5.50% Senior Notes due February 24, 2053 (the "Notes").

View on SEC.gov

Browse all debt financings →

YORK WATER CO filing history →

Source: SEC EDGAR

accession 0001140361-23-008783

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.