{"success":true,"data":{"pressRelease":{"id":"170384","rtpr_id":"nGNX2GbnZ0-20261015","ticker":"CWT","exchange":"NYSE","all_tickers":["CWT"],"title":"California Water Service Group Prices $125 Million of Senior Unsecured Notes and California Water Service Company Prices $150 Million of First Mortgage Bonds ","author":"Globe Newswire","published_at":"2026-10-15T12:45:00.196Z","article_body":"SAN JOSE, Calif., Oct. 15, 2026 (GLOBE NEWSWIRE) -- California Water Service\nGroup (Group, NYSE: CWT) today announced the pricing of $125,000,000 in\naggregate principal amount of Senior Unsecured Notes (the Notes) by Group and\n$150,000,000 in aggregate principal amount of First Mortgage Bonds (the Bonds)\nby California Water Service Company (Cal Water), a wholly owned subsidiary of\nGroup, in private placement transactions. The transactions are expected to\nclose on or before December 31, 2026, subject to the satisfaction of customary\nclosing conditions.\n\nThe Notes consist of $75,000,000 of 6.08% senior unsecured notes, Series C,\ndue December 15, 2031, and $50,000,000 of 6.41% senior unsecured notes, Series\nD, due December 15, 2036. The Bonds consist of $50,000,000 of 6.49% bonds,\nSeries 4, maturing December 15, 2046, and $100,000,000 of 6.54% bonds, Series\n5, maturing December 15, 2056.\n\nInterest on the Notes will accrue semi-annually and be payable in arrears. The\nNotes will rank equally with Group’s indebtedness under its Credit\nAgreement, dated as of March 31, 2023, with Bank of America, N.A. and the\nother parties thereto. Interest on the Bonds will accrue semi-annually and be\npayable in arrears. The Bonds will rank equally with all of Cal Water’s\nother First Mortgage Bonds and will be secured by liens on its properties,\nsubject to certain exceptions and permitted liens.\n\nGroup plans to use the net proceeds from the sale of the Notes to refinance\nexisting indebtedness and for general corporate purposes. Cal Water plans to\nuse the net proceeds from the sale of the Bonds to refinance existing\nindebtedness and for general corporate purposes, as set forth in California\nPublic Utilities Code Section 817.\n\nNeither the Notes nor the Bonds have been registered under the Securities Act\nof 1933, as amended, and neither may be offered or sold in the United States\nabsent registration or an applicable exemption from registration requirements.\nThis announcement is neither an offer to sell nor a solicitation of an offer\nto buy any of the Notes or the Bonds. The matters discussed in this release\ninclude forward-looking statements. These statements are based on current\nexpectations or beliefs and are subject to factors and uncertainties that\ncould cause actual results to differ materially from those described in the\nforward-looking statements. Group is providing this information as of the date\nof this news release and assumes no obligation to update any forward-looking\nstatement to reflect events or circumstances occurring after the date of this\nnews release.\n\nAbout California Water Service Group\n\nCalifornia Water Service Group is the parent company of regulated utilities\nCalifornia Water Service Company, Hawaii Water Service Company, Inc., New\nMexico Water Service Company, Washington Water Service Company, and TWSC,\nInc., a utility holding company. Together, these companies provide regulated\nand non-regulated water and wastewater service to more than 2.2 million people\nin California, Hawaii, New Mexico, Texas, and Washington. California Water\nService Group’s common stock trades on the New York Stock Exchange under\nthe symbol “CWT.” Additional information is available online\nat www.calwatergroup.com.\n\nThis news release contains forward-looking statements within the meaning\nestablished by the Private Securities Litigation Reform Act of 1995 (PSLRA)\nregarding the consummation of the transactions, the satisfaction of customary\nclosing conditions with respect to the transactions and the use of proceeds\nfrom the transactions. The forward-looking statements are intended to qualify\nunder provisions of the federal securities laws for “safe harbor”\ntreatment established by the PSLRA. Forward-looking statements in this news\nrelease are based on currently available information, expectations, estimates,\nassumptions and projections, and our management’s beliefs, assumptions,\njudgments and expectations about us, the water utility industry and general\neconomic conditions. These statements are not statements of historical fact.\nWhen used in our documents, statements that are not historical in nature,\nincluding words like will, would, expects, intends, plans, believes, may,\ncould, estimates, assumes, anticipates, projects, progress, predicts, hopes,\ntargets, forecasts, should, seeks or variations of these words or similar\nexpressions are intended to identify forward-looking statements.\nForward-looking statements are not guarantees of future performance. They are\nbased on numerous assumptions that we believe are reasonable, but they are\nopen to a wide range of uncertainties and business risks. Consequently, actual\nresults or outcomes may vary materially from what is contained in a\nforward-looking statement. Factors that may cause actual results or outcomes\nto be different than those expected or anticipated include, but are not\nlimited to: the outcome and timeliness of regulatory commissions' actions\nconcerning rate relief and other matters, including with respect to general\nrate cases and other regulatory proceedings; the impact of opposition to rate\nincreases; our ability to recover costs; federal governmental and state\nregulatory commissions' decisions, including decisions on proper disposition\nof property; changes in state regulatory commissions' policies and procedures;\nchanges in California State Water Resources Control Board water quality\nstandards; changes in environmental compliance and water quality requirements,\nsuch as the United States Environmental Protection Agency's (EPA) finalization\nof a National Primary Drinking Water Regulation (NPDWR) establishing legally\nenforceable maximum contaminant levels (MCL) for PFAS in drinking water in\n2024 as well as legal challenges to such MCLs; EPA's proposed new PFAS\nrulemaking, including impacts to the current PFAS NPDWR; the impact of\nweather, climate change, natural disasters, including wildfires and landslides\nand actual or threatened public health emergencies, including disease\noutbreaks, on our operations, water quality, water availability, water sales\nand operating results and the adequacy of our emergency preparedness; electric\npower interruptions, especially as a result of public safety power shutoff\nprograms; availability of water supplies; our ability to invest or apply the\nproceeds from the issuance of common stock in an accretive manner;\nconsequences of eminent domain actions relating to our water systems;\nincreased risk of inverse condemnation losses as a result of the impact of\nweather, climate change and natural disasters, including wildfires and\nlandslides; shifts in population, including housing and customer growth;\nissues with the implementation, maintenance or security of our information\ntechnology and operational technology systems; physical and cyber security\nrisks and threats and the adequacy of our efforts to mitigate such risks and\nthreats; the ability of our enterprise risk management processes to identify\nor address risks adequately; labor relations matters as we negotiate with the\nunions; changes in customer water use patterns and the effects of\nconservation, including as a result of drought conditions; our ability to\ncomplete, in a timely manner or at all, successfully integrate and achieve\nanticipated benefits from announced acquisitions, including the Oregon, Nevada\nand BVRT acquisitions; restrictive covenants in or changes to the credit\nratings on our current or future debt that could increase our financing costs\nor affect our ability to borrow, make payments on debt or pay dividends; risks\nassociated with expanding our business and operations, including into other\ngeographic areas; the impact of stagnating or worsening business and economic\nconditions, including inflationary pressures, general economic slowdown or a\nrecession, changes in tariff policy, the interest rate environment, changes in\nmonetary policy, adverse capital markets activity or macroeconomic conditions\nas a result of geopolitical conflicts, including ongoing conflicts in the\nMiddle East, and the prospect of shutdowns of the U.S. federal government; the\nimpact of market conditions and volatility on unrealized gains or losses on\nour non-qualified benefit plan investments and our operating results; the\nimpact of weather and timing of meter reads on our accrued and unbilled\nrevenue; the impact of evolving legal and regulatory requirements, including\nsustainability requirements; the impact of the evolving U.S. political\nenvironment and changes effected, proposed, or threatened by the U.S. federal\ngovernment that has led to, in some cases, legal challenges and uncertainty\naround the funding, functioning and policy priorities of U.S. federal\nregulatory agencies and the status of current and future regulations; and\nother risks and unforeseen events described in our Securities and Exchange\nCommission (SEC) filings. In light of these risks, uncertainties and\nassumptions, investors are cautioned not to place undue reliance on\nforward-looking statements, which speak only as of the date of this news\nrelease. When considering forward-looking statements, you should keep in mind\nthe cautionary statements included in this paragraph, as well as the Annual\nReport on Form 10-K, Quarterly Reports on Form 10-Q and other reports filed\nfrom time-to-time with the SEC. We are not under any obligation and we\nexpressly disclaim any obligation to update or alter any forward-looking\nstatements, whether as a result of new information, future events or\notherwise. A credit rating is not a recommendation to buy, sell or hold any\nsecurities, may be changed at any time by the applicable ratings agency and\nshould be evaluated independently of any other information.\n\n CONTACT:  Jim Lynch, jlynch@calwater.com , (408) 367-8200 (analysts)  \n           Shannon Dean, sdean@calwater.com , (408) 367-8243 (media)   \n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/d6a9d3d9-18cf-4f03-b01a-ddb5b40fb3c5)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX2GbnZ0-20261015","title":"California Water Service Group Prices $125 Million of Senior Unsecured Notes and California Water Service Company Prices $150 Million of First Mortgage Bonds ","author":"Globe Newswire","ticker":"CWT","created":"2026-10-15T12:45:00.196Z","tickers":["CWT"],"exchange":"NYSE","article_body":"SAN JOSE, Calif., Oct. 15, 2026 (GLOBE NEWSWIRE) -- California Water Service\nGroup (Group, NYSE: CWT) today announced the pricing of $125,000,000 in\naggregate principal amount of Senior Unsecured Notes (the Notes) by Group and\n$150,000,000 in aggregate principal amount of First Mortgage Bonds (the Bonds)\nby California Water Service Company (Cal Water), a wholly owned subsidiary of\nGroup, in private placement transactions. The transactions are expected to\nclose on or before December 31, 2026, subject to the satisfaction of customary\nclosing conditions.\n\nThe Notes consist of $75,000,000 of 6.08% senior unsecured notes, Series C,\ndue December 15, 2031, and $50,000,000 of 6.41% senior unsecured notes, Series\nD, due December 15, 2036. The Bonds consist of $50,000,000 of 6.49% bonds,\nSeries 4, maturing December 15, 2046, and $100,000,000 of 6.54% bonds, Series\n5, maturing December 15, 2056.\n\nInterest on the Notes will accrue semi-annually and be payable in arrears. The\nNotes will rank equally with Group’s indebtedness under its Credit\nAgreement, dated as of March 31, 2023, with Bank of America, N.A. and the\nother parties thereto. Interest on the Bonds will accrue semi-annually and be\npayable in arrears. The Bonds will rank equally with all of Cal Water’s\nother First Mortgage Bonds and will be secured by liens on its properties,\nsubject to certain exceptions and permitted liens.\n\nGroup plans to use the net proceeds from the sale of the Notes to refinance\nexisting indebtedness and for general corporate purposes. Cal Water plans to\nuse the net proceeds from the sale of the Bonds to refinance existing\nindebtedness and for general corporate purposes, as set forth in California\nPublic Utilities Code Section 817.\n\nNeither the Notes nor the Bonds have been registered under the Securities Act\nof 1933, as amended, and neither may be offered or sold in the United States\nabsent registration or an applicable exemption from registration requirements.\nThis announcement is neither an offer to sell nor a solicitation of an offer\nto buy any of the Notes or the Bonds. The matters discussed in this release\ninclude forward-looking statements. These statements are based on current\nexpectations or beliefs and are subject to factors and uncertainties that\ncould cause actual results to differ materially from those described in the\nforward-looking statements. Group is providing this information as of the date\nof this news release and assumes no obligation to update any forward-looking\nstatement to reflect events or circumstances occurring after the date of this\nnews release.\n\nAbout California Water Service Group\n\nCalifornia Water Service Group is the parent company of regulated utilities\nCalifornia Water Service Company, Hawaii Water Service Company, Inc., New\nMexico Water Service Company, Washington Water Service Company, and TWSC,\nInc., a utility holding company. Together, these companies provide regulated\nand non-regulated water and wastewater service to more than 2.2 million people\nin California, Hawaii, New Mexico, Texas, and Washington. California Water\nService Group’s common stock trades on the New York Stock Exchange under\nthe symbol “CWT.” Additional information is available online\nat www.calwatergroup.com.\n\nThis news release contains forward-looking statements within the meaning\nestablished by the Private Securities Litigation Reform Act of 1995 (PSLRA)\nregarding the consummation of the transactions, the satisfaction of customary\nclosing conditions with respect to the transactions and the use of proceeds\nfrom the transactions. The forward-looking statements are intended to qualify\nunder provisions of the federal securities laws for “safe harbor”\ntreatment established by the PSLRA. Forward-looking statements in this news\nrelease are based on currently available information, expectations, estimates,\nassumptions and projections, and our management’s beliefs, assumptions,\njudgments and expectations about us, the water utility industry and general\neconomic conditions. These statements are not statements of historical fact.\nWhen used in our documents, statements that are not historical in nature,\nincluding words like will, would, expects, intends, plans, believes, may,\ncould, estimates, assumes, anticipates, projects, progress, predicts, hopes,\ntargets, forecasts, should, seeks or variations of these words or similar\nexpressions are intended to identify forward-looking statements.\nForward-looking statements are not guarantees of future performance. They are\nbased on numerous assumptions that we believe are reasonable, but they are\nopen to a wide range of uncertainties and business risks. Consequently, actual\nresults or outcomes may vary materially from what is contained in a\nforward-looking statement. Factors that may cause actual results or outcomes\nto be different than those expected or anticipated include, but are not\nlimited to: the outcome and timeliness of regulatory commissions' actions\nconcerning rate relief and other matters, including with respect to general\nrate cases and other regulatory proceedings; the impact of opposition to rate\nincreases; our ability to recover costs; federal governmental and state\nregulatory commissions' decisions, including decisions on proper disposition\nof property; changes in state regulatory commissions' policies and procedures;\nchanges in California State Water Resources Control Board water quality\nstandards; changes in environmental compliance and water quality requirements,\nsuch as the United States Environmental Protection Agency's (EPA) finalization\nof a National Primary Drinking Water Regulation (NPDWR) establishing legally\nenforceable maximum contaminant levels (MCL) for PFAS in drinking water in\n2024 as well as legal challenges to such MCLs; EPA's proposed new PFAS\nrulemaking, including impacts to the current PFAS NPDWR; the impact of\nweather, climate change, natural disasters, including wildfires and landslides\nand actual or threatened public health emergencies, including disease\noutbreaks, on our operations, water quality, water availability, water sales\nand operating results and the adequacy of our emergency preparedness; electric\npower interruptions, especially as a result of public safety power shutoff\nprograms; availability of water supplies; our ability to invest or apply the\nproceeds from the issuance of common stock in an accretive manner;\nconsequences of eminent domain actions relating to our water systems;\nincreased risk of inverse condemnation losses as a result of the impact of\nweather, climate change and natural disasters, including wildfires and\nlandslides; shifts in population, including housing and customer growth;\nissues with the implementation, maintenance or security of our information\ntechnology and operational technology systems; physical and cyber security\nrisks and threats and the adequacy of our efforts to mitigate such risks and\nthreats; the ability of our enterprise risk management processes to identify\nor address risks adequately; labor relations matters as we negotiate with the\nunions; changes in customer water use patterns and the effects of\nconservation, including as a result of drought conditions; our ability to\ncomplete, in a timely manner or at all, successfully integrate and achieve\nanticipated benefits from announced acquisitions, including the Oregon, Nevada\nand BVRT acquisitions; restrictive covenants in or changes to the credit\nratings on our current or future debt that could increase our financing costs\nor affect our ability to borrow, make payments on debt or pay dividends; risks\nassociated with expanding our business and operations, including into other\ngeographic areas; the impact of stagnating or worsening business and economic\nconditions, including inflationary pressures, general economic slowdown or a\nrecession, changes in tariff policy, the interest rate environment, changes in\nmonetary policy, adverse capital markets activity or macroeconomic conditions\nas a result of geopolitical conflicts, including ongoing conflicts in the\nMiddle East, and the prospect of shutdowns of the U.S. federal government; the\nimpact of market conditions and volatility on unrealized gains or losses on\nour non-qualified benefit plan investments and our operating results; the\nimpact of weather and timing of meter reads on our accrued and unbilled\nrevenue; the impact of evolving legal and regulatory requirements, including\nsustainability requirements; the impact of the evolving U.S. political\nenvironment and changes effected, proposed, or threatened by the U.S. federal\ngovernment that has led to, in some cases, legal challenges and uncertainty\naround the funding, functioning and policy priorities of U.S. federal\nregulatory agencies and the status of current and future regulations; and\nother risks and unforeseen events described in our Securities and Exchange\nCommission (SEC) filings. In light of these risks, uncertainties and\nassumptions, investors are cautioned not to place undue reliance on\nforward-looking statements, which speak only as of the date of this news\nrelease. When considering forward-looking statements, you should keep in mind\nthe cautionary statements included in this paragraph, as well as the Annual\nReport on Form 10-K, Quarterly Reports on Form 10-Q and other reports filed\nfrom time-to-time with the SEC. We are not under any obligation and we\nexpressly disclaim any obligation to update or alter any forward-looking\nstatements, whether as a result of new information, future events or\notherwise. A credit rating is not a recommendation to buy, sell or hold any\nsecurities, may be changed at any time by the applicable ratings agency and\nshould be evaluated independently of any other information.\n\n CONTACT:  Jim Lynch, jlynch@calwater.com , (408) 367-8200 (analysts)  \n           Shannon Dean, sdean@calwater.com , (408) 367-8243 (media)   \n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/d6a9d3d9-18cf-4f03-b01a-ddb5b40fb3c5)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-10-15T12:45:00.243537409Z","server_sent_at_ms":1792068300243},"received_at":"2026-10-15T12:45:00.434Z","source_url":null},"analysis":{"id":"158569","press_release_id":"170384","analysis_json":{"industry":{"label":"Water Utilities","sector":"Utilities"},"redFlags":["coupons of 6.08%-6.54% reflect elevated financing costs for the utility"],"eventType":"debt_offering","narrative":"California Water Service Group priced $125 million of senior unsecured notes while subsidiary Cal Water priced $150 million of first mortgage bonds in private placements.\n\nThe $275 million of combined debt carries coupons of 6.08% to 6.54% with maturities from 2031 to 2056, and is expected to close on or before December 31, 2026.\n\nProceeds will refinance existing indebtedness and fund general corporate purposes; for a regulated utility this is routine capital-structure maintenance rather than a strategic event.","sentiment":"neutral","agentHooks":{"shouldPost":false,"suggestedAngle":"Routine $275M private-placement debt raise to refinance existing obligations -- standard for a regulated water utility."},"keyFigures":{"customDimensions":{"expected_close":"on or before December 31, 2026","bonds_principal":"$150 million first mortgage bonds (Cal Water): $50M at 6.49% due 2046, $100M at 6.54% due 2056","notes_principal":"$125 million senior unsecured notes (Group): $75M at 6.08% due 2031, $50M at 6.41% due 2036"}},"namedEntities":{"people":[],"products":["Senior Unsecured Notes Series C and D","First Mortgage Bonds Series 4 and 5"],"companies":[{"name":"California Water Service Group","ticker":"CWT","relationship":"filer / notes issuer"},{"name":"California Water Service Company (Cal Water)","relationship":"wholly owned subsidiary / bonds issuer"},{"name":"Bank of America, N.A.","relationship":"credit agreement counterparty"}],"dollarAmounts":[{"amount":"$125,000,000","context":"senior unsecured notes issued by Group"},{"amount":"$150,000,000","context":"first mortgage bonds issued by Cal Water"},{"amount":"$75,000,000","context":"6.08% Series C notes due 2031"},{"amount":"$50,000,000","context":"6.41% Series D notes due 2036"},{"amount":"$50,000,000","context":"6.49% Series 4 bonds due 2046"},{"amount":"$100,000,000","context":"6.54% Series 5 bonds due 2056"}]},"materialImpact":{"score":2,"reasoning":"Routine private-placement debt financing for a regulated water utility, largely to refinance existing indebtedness. Coupon rates of 6.08%-6.54% are notable but not market-moving."},"tickerRelevance":{"others":[],"primary":"CWT"},"globalImportance":18,"audienceRelevance":15,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"mid-cap utility","eventGravity":"routine refinancing debt issuance","issuerAuthored":true}},"event_type":"debt_offering","event_type_secondary":null,"sentiment":"neutral","material_impact_score":2,"narrative":"California Water Service Group priced $125 million of senior unsecured notes while subsidiary Cal Water priced $150 million of first mortgage bonds in private placements.\n\nThe $275 million of combined debt carries coupons of 6.08% to 6.54% with maturities from 2031 to 2056, and is expected to close on or before December 31, 2026.\n\nProceeds will refinance existing indebtedness and fund general corporate purposes; for a regulated utility this is routine capital-structure maintenance rather than a strategic event.","key_figures":{"customDimensions":{"expected_close":"on or before December 31, 2026","bonds_principal":"$150 million first mortgage bonds (Cal Water): $50M at 6.49% due 2046, $100M at 6.54% due 2056","notes_principal":"$125 million senior unsecured notes (Group): $75M at 6.08% due 2031, $50M at 6.41% due 2036"}},"named_entities":{"people":[],"products":["Senior Unsecured Notes Series C and D","First Mortgage Bonds Series 4 and 5"],"companies":[{"name":"California Water Service Group","ticker":"CWT","relationship":"filer / notes issuer"},{"name":"California Water Service Company (Cal Water)","relationship":"wholly owned subsidiary / bonds issuer"},{"name":"Bank of America, N.A.","relationship":"credit agreement counterparty"}],"dollarAmounts":[{"amount":"$125,000,000","context":"senior unsecured notes issued by Group"},{"amount":"$150,000,000","context":"first mortgage bonds issued by Cal Water"},{"amount":"$75,000,000","context":"6.08% Series C notes due 2031"},{"amount":"$50,000,000","context":"6.41% Series D notes due 2036"},{"amount":"$50,000,000","context":"6.49% Series 4 bonds due 2046"},{"amount":"$100,000,000","context":"6.54% Series 5 bonds due 2056"}]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:5c812bd9e28b810d","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-10-15T12:45:06.227Z","global_importance":18,"audience_relevance":15,"importance_components":{"tickerTier":"mid-cap utility","eventGravity":"routine refinancing debt issuance","issuerAuthored":true}},"durationMs":5770,"modelName":"glm-5.3-flashx"}}