California Authority Plans $950 Million Bond Sale for Electricity Prepayments
By Josh Beckerman
The California Community Choice Financing Authority said it plans to sell $950 million of clean energy project revenue bonds.
Proceeds from the Series 2025F green bonds will be used to prepay for about 30 years of electricity deliveries. The supplier, Energy Prepay IX LLC, is owned by Morgan Stanley Capital Group.
CCCFA will sell the acquired electricity to Silicon Valley Clean Energy Authority, which provides energy to about 700,000 residents and businesses.
The preliminary final maturity date is Nov. 1, 2033, according to documents posted on MuniOS. Delivery of the bonds may take place as early as the week of Oct. 27.
Bond counsel believes interest isn't a preference item for the alternative minimum tax for individuals.
Moody's rated the bonds Aa2.
Morgan Stanley is the underwriter.
CCCFA is a Joint Powers Authority formed in 2021 that seeks to reduce power costs for member community choice aggregators through pre-payment structures. It sold $960.7 million of Series 2025E green bonds earlier this month.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
October 21, 2025 19:01 ET (23:01 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
3 Stocks to Sell and 3 Stocks to Buy for October
14 Elite Funds and ETFs, and 5 Popular Funds That Just Missed the Mark
The 10 Best Companies to Invest in Now
10 Top-Performing US Dividend Stocks
United States