California Water Service Group: to issue $275,000,000 of debt

What happened The filing says that on Oct 14, 2026 California Water Service Group entered into a Note Purchase Agreement to issue $75,000,000 of 6.08% Senior Unsecured Notes, Series C, due Dec 15, 2031 and $50,000,000 of 6.41% Senior Unsecured Notes, Series D, due Dec 15, 2036. The filing says that on Oct 14, 2026 California Water Service Company, a wholly owned subsidiary, entered into a Bond Purchase Agreement to issue $50,000,000 of 6.49% First Mortgage Bonds due Dec 15, 2046, Series 4 and $100,000,000 of 6.54% First Mortgage Bonds due Dec 15, 2056, Series 5. The filing says the Notes and the Bonds are expected to be issued on or before Dec 31, 2026.

Key details

• Group plans to use net proceeds from the Notes to refinance existing indebtedness and for general corporate purposes; Cal Water plans to use net proceeds from the Bonds to refinance existing indebtedness and for general corporate purposes as set forth in California Public Utilities Code Section 817.
• Interest on the Notes will accrue semi-annually and be payable in arrears on Jun 15 and Dec 15 of each year, commencing Jun 15, 2027.
• The Notes will rank equally with Group’s indebtedness under its Credit Agreement dated Mar 31, 2023.
• Interest on the Bonds will accrue semi-annually and be payable in arrears on Jun 15 and Dec 15 of each year, commencing Jun 15, 2027; the Bonds will rank equally with Cal Water’s other First Mortgage Bonds and will be secured by liens on its properties, subject to exceptions and permitted liens.

Why it may matter The filing reports an Item 8.01 other event: the company and its subsidiary entered into purchase agreements to issue a total of $275,000,000 of debt (Notes and Bonds) and describes the terms, use of proceeds and offering limitations. The filing says the Notes and Bonds are being offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A and have not been registered under the Securities Act. The filing does not show why the insider traded or why the company acted.