CSCDA Issues $174,450,000 in Taxable Bonds for the California Independent System Operator Corporation (CAISO)

January 26, 2021

The California Statewide Communities Development Authority (CSCDA) is pleased to announce the issuance of $174,450,000 in taxable bonds for the California Independent System Operator Corporation (CAISO).

About CAISO:

CAISO is a non-profit Independent System Operator (ISO) serving California.  It oversees the operation of California’s bulk electric power systems, transmission lines, and electricity market generated and transmitted by its member utilities.  The primary stated mission of CAISO is to operate the grid reliably and efficiently, provide fair and open transmission access, promote environmental stewardship, and facilitate effective markets and promote infrastructure development.  CAISO is one of the largest ISOs in the world, delivering 300 million megawatt-hours of electricity each year and managing about 80% of California’s electric flow.

About the Financing:

CSCDA partnered with RBC Capital Markets and Orrick, Herrington & Sutcliffe, LLP to provide the A+ rated taxable bonds.  The bonds were issued to refinance CAISO’s prior issued bonds, providing more than $20 million in interest savings.

About CSCDA:

CSCDA is a joint powers authority created in 1988, and is sponsored by the California State Association of Counties and the League of California Cities.  More than 530 cities, counties, and special districts are program participants in CSCDA, which serves as their conduit issuer, and provides access to efficiently finance locally-approved projects.  CSCDA has issued more than $65 billion in tax-exempt bonds for projects that provide a public benefit by creating jobs, affordable housing, healthcare, infrastructure, schools, and other fundamental services.

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