Aquarion Water Authority Plans $2.4 Billion Bond Sale for Eversource Buyout

1 articles · Updated · Bloomberg · Jul 13

$2.4 billion of bonds are set to be sold Tuesday by the Aquarion Water Authority to finance its purchase of a water company from Eversource Energy.
The borrowing would be the largest bond sale in Connecticut history, making the deal a rare leveraged buyout structure for a local public agency.
Dozens of Connecticut towns are poised to feel the impact as control of the water utility shifts from investor-owned Eversource to the state-created authority.