Piedmont Public Power Agency
Piedmont Mini-Bonds, Series 2027B
Municipal mini-bonds against an operating station in its thirty-ninth year. No ceiling, no investor cap.
The plant has operated since 1988 and the agency is refinancing its participation share while extending the license. Payment comes from nine member cities under cost-of-service take-or-pay contracts, not from the plant's market performance. Twenty year term at 4.25%, in $500 denominations, freely tradable, and exempt from Securities Act registration entirely.
$24,800,000 committed of $40,000,000
$24,800,000 released · 62% subscribed
- Minimum
- $500
- Target coupon
- 4.25%
- Term
- 20 yr
- Investors
- 7,244
$500 per unit
Annual, fixed
Closes April 30, 2027 · 229 days remaining
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Use of proceeds
- 62%Refunding of Series 2011A obligations
- 24%License renewal and life extension capital
- 11%Debt service reserve
- 3%Issuance costs
The issuer
A joint action agency of nine municipal utilities, refinancing its participation share in an operating nuclear station and opening the issue to retail.
- Legal name
- Piedmont Public Power Agency
- Entity
- South Carolina joint agency
- Jurisdiction
- South Carolina
- Founded
- 1974
Loretta KingsleyExecutive Director
Municipal utility finance and joint agency governance, twenty-six years.