DALLAS — Arizona’s Salt River Project Agricultural Improvement and Power District is preparing to sell $325 million of electric revenue bonds by the end of the month to refund all but $50 million of the utility’s commercial paper.

The deal still needs board approval, which is expected this week. Treasurer Aiden McSheffrey said the structure of the bonds would be announced after that.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.