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OAQDA Helps Utility Companies Refinance $134.2 Million in Debt
The Ohio Air Quality Development Authority (OAQDA) approved $134.2 million in revenue refunding bonds for three Ohio utility companies, including Cincinnati Gas & Electric Company, Cleveland Electric Illuminating Company and Toledo Edison Company.
Cincinnati Gas & Electric was approved for $84 million in revenue refunding bonds related to modifying air pollution control measures. The company was originally approved for funding by OAQDA to purchase and modify pollution control equipment at its William H. Zimmer Generating Station in Moscow, Ohio.
In addition, OAQDA approved $30 million in revenue refunding bonds for Cleveland Electric Illuminating Company and $20.2 million in revenue refunding bonds for Toledo Edison Company to refund debt on air quality facilities. The companies were originally approved for funding to purchase and install filtration equipment that processes and treats routine radioactive releases. The equipment removes, absorbs and decays radioactive gases and particles. |
