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Article: A.G. Edwards Immerses Itself in Water Companies.(Brief article)
- Article from:
- Private Placement Letter
- Article date:
- November 27, 2006
- Author:
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Agent A.G Edwards killed two birds with one stone last week, pricing two deals for two subsidiaries of San Jose, Calif.-based SJW Corp., according to market sources.
The first placement, a $20 million deal for public utility San Jose Water Company, was placed in a 30-year single bullet that priced at 98 basis points over Treasurys, sources said.
The utility is viewed as a NAIC-1 type credit. San Jose Water Company, founded in 1866, is an investor owned water company, headquartered in Silicon Valley, and is the largest urban water system in the United States, serving one million people.
The second private deal was a $15 transaction for ...