County Water Authority Refinances Bonds For Savings Of $18 Million

The San Diego County Water Authority announced Wednesday that it has saved nearly $18 million in debt payments by refinancing the bonds used to construct part of the Claude “Bud” Lewis Carlsbad Desalination Plant. The savings topped prior projections of $13.6 million through June 2046, according to the Water Authority. A total of 45 investors, including J.P. Morgan Securities LLC and Goldman Sachs, made nearly $2 billion in orders for the bonds. Investors were attracted to the water authority’s strong credit and history of providing a reliable water supply, according to the agency.