JPS to Refinance $US179.2Mn of its Debt

  • As part of its Extraordinary Rate Review application to the Office of Utilities Regulation (OUR), the JPS proposed to refinance US$179.2 million of its existing long-term debt to reduce the interest rate from 11% to 8% per annum. 
  • The company says the refinancing would translate into savings of US$ 5.37 million per annum for the remaining three years of the debt.
  • Customers could receive US$3.4Mn per annum reduction on their bills as a result of the refinancing.

Source: RJR