INDIANA MUNICIPAL POWER AGENCY ANNOUNCES PLANS TO ISSUE 2022 SERIES A BONDS
Indiana Municipal Power Agency (“IMPA”) plans to issue approximately $120 million of tax-exempt fixed-rate bonds the week of August 1, 2022 through a negotiated sale. Approximately $100 million of the net proceeds from the sale of the bonds will be used for capital improvements to IMPA’s power supply system and approximately $20 million will be used to refund IMPA’s outstanding 2012 A Bonds (subject to market conditions). The sale will be led by book-running senior manager Citigroup Global Markets Inc. with J.P. Morgan and PNC Capital Markets LLC. serving as co-managers on the transaction.
A Preliminary Official Statement is expected to be available on July 25, 2022.
IMPA, a political subdivision of the State of Indiana, is a joint-action agency that provides wholesale electricity and transmission services to 61 municipalities in Indiana and Ohio. IMPA owns approximately $2.0 billion of generation, transmission and other assets and has total revenue bonds outstanding of approximately $1.2 billion. IMPA’s current long-term municipal ratings are A+ and A1 by the major rating agencies.
For more information, please contact Chris Rettig, Senior Vice President and CFO of IMPA, at 317-573-9955 or by email at firstname.lastname@example.org.
To remain on top of all debt-related events, documents and news, including announcements about when IMPA will be selling bonds, we encourage you to sign up for notifications. This can be done at the bottom of IMPA’s investor relations homepage.
IMPA is the wholesale power provider to 61 cities and towns throughout Indiana and Ohio that own and operate the municipal electric distribution systems in their communities. IMPA members deliver electric service to approximately 350,000 individuals. For more information about IMPA, visit www.impa.com.