San Antonio Selling $160M to Enlarge Its Atomic Power Stake

Albanese, Elizabeth
November 2004
Bond Buyer;11/16/2004, Vol. 350 Issue 32011, p30
Trade Publication
This article reports that San Antonio, Texas, will go to market today with an offering of $160 million of electric and gas systems junior-lien revenue bonds. City Public Services (CPS), San Antonio's electricity and gas provider, will use the tax exempt bond proceeds to buy an additional 12% share in the South Texas Project nuclear plant from American Electric Power Co. Inc. (AEP). After the sale, CPS will own 40% of the 2,500-megawatt nuclear plant, which is located near Bay City, south of Houston. Investor-owned AEP, based in Ohio, will use the revenue from the sale to reduce its debt load.


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