Hamilton developer Harry Stinson was accused of improperly soliciting funds from 207 investors from November 2016 through March 2020 for the redevelopment of the Buffalo Grand, including conversion of part
Bumpity-bump no more – Pratt Tribune pratttribune.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pratttribune.com Daily Mail and Mail on Sunday newspapers.
The single-class, Triple A rated transaction,
WEPCo Environmental Trust Finance I 2021, is expected to raise US$118.81m and will be secured by a special fee the utility will collect from its customers.
Barclays is the lead underwriter.
In November 2020, the Wisconsin state legislature approved the bond issuance for WEPCO to recover US$100m of the undepreciated costs associated with the environmental control activities at the Pleasant Prairie Power Plant.
This kind of securitization can lower the cost to customers on a present value basis compared with other methods of financing. In a pre-sale report, Fitch estimated the net present value benefits from securitization were around US$41m compared with traditional utility ratemaking.