Opus Bank is pleased to announce it provided:

Title: Public Utility District No. 1 of Pend Oreille County
Amount: $
Month:
Year:

Public Utility District No. 1 of Pend Oreille County

Overview of Transaction

  • The Public Utility District No. 1 of Pend Oreille County (the “District”) in Washington commenced operations in 1948 and now provides electric power to over 8,000 people and businesses in the county. The District also provides water for approximately 600 customers and fiber-optic internet service to over 1,800 customers.

Significance of Transaction

  • Opus Bank (“Opus”) was able to refinance an inter-fund loan of the District that provided financing for a portion of the fiber-optic internet system’s development costs. The loan proceeds provided the District increased working capital and the ability to finance other capital projects.

Opus Bank's Role

  • Opus worked with the District’s team to design a financing structure that uniquely addressed the specific needs of the District and the nature of the fiber-optic internet system.

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