Bonds Will Help Fund Largest Capital Investment in United Water’s 140-Year History; One of the Most Technologically Advanced Water Treatment Plants in the US
United Water, one of the largest providers of water and wastewater services in nation, announced today that its largest subsidiary, United Water New Jersey, has issued $65 million series 2009 bonds offered through the New Jersey Economic Development Authority. The bonds have a coupon of 5.5% with a maturity date of July 1, 2039. Edward Jones served as the sole underwriter for the offering.
On July 7, 2009, Standard & Poor's Ratings Services assigned its “A-“unsecured debt rating to these bonds and affirmed its “A-“corporate credit rating on United Water New Jersey. The “A-“ debt rating will enable United Water to gain a favorable interest rate in the market today and thus lower the cost of capital for important water and wastewater system upgrades.
United Water is a subsidiary of SUEZ ENVIRONNEMENT, a global leader exclusively dedicated to water supply and waste management services. SUEZ ENVIRONNEMENT and its subsidiaries are committed to the daily challenge of protecting resources and ecosystems for millions of people and industries around the world.
Bertrand Camus, United Water CEO, explained that proceeds from the bond issue will finance a portion of the renovation and upgrade of United Water New Jersey’s Haworth Water Treatment Plant and various other projects to improve water transmission infrastructure. The plant, which serves 800,000 people in Bergen and Hudson Counties, is undergoing the largest and most extensive upgrade in United Water’s history. The $100 million project will improve water quality, safeguard the environment and enhance service reliability.
“The new upgrades will help United Water continue its leadership role in the water industry,” said Camus. “Our Haworth facility is now the largest water treatment plant in the U.S. to use advanced Dissolved Air Flotation (DAF). This technology was developed by our sister company, Degremont, and demonstrates how we apply global resources to develop the most effective local solutions.”
DAF, used in combination with new ozone and chlorine contact systems as well as traditional filtration, will help the Haworth Water Treatment Plant:
• Deliver better tasting, higher quality drinking water
• Meet increasingly stringent water quality regulations
• Maintain wetlands and other environmentally sensitive areas
• Reduce chemical and energy usage
• Enhance service reliability
• Improve water quality in the Oradell Reservoir
About United Water
United Water is one of the nation’s leading water and wastewater services providers to over 7 million people in 26 states through the dedication of its 2,600 employees. In addition to owning and operating 20 regulated utilities, United Water operates 240 municipal systems through public-private partnerships and contract agreements, including three of the nation's largest water and wastewater contracts: Indianapolis, IN, Gary, IN and Jersey City, NJ. The company’s affiliate, Utility Service Company, provides water tank asset management services to over 2,000 municipal and industrial clients under long term contracts. Founded in 1869, United Water is a subsidiary of the SUEZ ENVIRONNEMENT.
About Suez Environnement
Natural resources are not infinite. Each day, SUEZ ENVIRONNEMENT and its subsidiaries deal with the challenge to protect resources by providing innovative solutions to industries and to millions of people. SUEZ ENVIRONNEMENT supplies drinking water to 76 million people, provides wastewater treatment services for 44 million people and collects the waste produced by 60 million people. SUEZ ENVIRONNEMENT has 65,400 employees and is present on five continents. It is a world leader exclusively dedicated to water supply and waste removal services. In 2008, SUEZ ENVIRONNEMENT, a subsidiary in which GDF SUEZ has a 35% stake, achieved sales turnover of €12.4 billion ($17.6 billion USD). To find out more visit
www.suezenvironnement.com
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Disclaimer: This press release is not an offer to sell or solicitation of an offer to buy these securities. In addition, these securities will not be sold in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration of qualifications under securities laws of those jurisdictions.