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Investor relations

SRP has provided reliable water and power to central Arizona for more than a century, helping the Phoenix metropolitan area thrive. But we’re not stopping there. See why you can have confidence in our plan to build a better future.

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    A reliable investment

    See the credit ratings assigned to SRP as of April 2022.

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    Latest bond application

    On July 20, 2022, Salt River Project Agricultural Improvement and Power District (SRP) filed an Application with the Arizona Corporation Commission (Commission) for an order authorizing SRP to issue $1.8 billion in revenue bonds and $3.0 billion in refunding revenue bonds. The purpose of any financing done under the authorization would be to pay or reimburse the cost of construction, acquisition and installation of improvements, replacements, additions, extensions and betterments of the electric system, and to provide monies to refund any revenue bonds theretofore or thereafter issued by SRP, and to pay expenses incurred in connection therewith. The Commission may approve, disapprove, or approve the financing request with modifications. The Commission may act on the financing request with or without a hearing. See the public noticeDocument is a PDF.

    Funding the Valley’s future

    As the Valley of the Sun continues to prosper, SRP remains committed to providing affordable, reliable power to meet increasing demand. 

    SRP occasionally issues municipal bonds to support capital projects and, when necessary, enhance existing infrastructure.

    SRP municipal bonds pay a fixed interest rate over the life of the bonds. Typically, earned interest is exempt from federal taxes. State tax exemptions are, in most cases, available for bond purchasers who are residents in the state where the bonds are issued.

    Note: SRP encourages you to work with your tax adviser to fully understand tax implications.

    View bond disclosures

    You can see all of SRP’s current bond disclosures on the Electronic Municipal Market Access (EMMA) website, operated by the Municipal Securities Rulemaking Board (MSRB).

    The EMMA system provides a comprehensive, centralized and free source for all details related to bonds, including official statements, continuing disclosure submissions, advance refunding documents, and real-time trade price information on municipal securities.

    See existing bonds 

    Explore the list of SRP Revenue Bond issues and click on any link to see more information on EMMA.

    Electric System Revenue Bonds

    Series Original Par Amount Dated
    2022 Series A 193,065,000 3/4/2022
    2021 Series A 277,400,000 10/1/2020
    2020 Series A 224,670,000 10/1/2020
    2020 Series B 100,000,000 10/1/2020
    2019 Series A 461,170,000 10/24/2019
    2017 Series A 735,240,000 11/9/2017
    2016 Series A 760,965,000 11/18/2016
    2015 Series A 924,000,000 5/15/2015
    2010 Series A 500,000,000 10/7/2010

    Review our financials

    Download ​SRP’s latest financials.

    2022 Annual ReportDocument is a PDF

    Quarterly financial statementsDocument is a PDF

    2021 Sustainability ReportDocument is a PDF

    Stay in the know

    See the latest updates and notices about SRP’s financial decisions.

    Independent Registered Municipal Advisor information (IRMA)

    Effective March 2, 2015, SRP has retained Public Financial Management, Inc. ("PFM"), an independent registered municipal advisor, as its financial advisor.

    SRP is represented by and will rely on the advice of PFM when considering information provided by financial services firms concerning the issuance of municipal securities and municipal financial products.

    Download the complete Notice of Retention of an Independent Registered Municipal AdvisorDocument is a PDF

    Updates to Revolving Credit Agreements

    The Salt River Project Agricultural Improvement and Power District's (the "District") Board of Directors authorized, on June 6, 2022, to execute and deliver (i) a Revolving Credit Agreement with TD Bank, N.A., as agent and a lender, with a term of four years and a borrowing limit not to exceed $175,000,000 thereunder and (ii) the Third Amendment to the Revolving Credit Agreement with JPMORGAN CHASE BANK, N.A., as agent and a lender, amending the borrowing limit thereunder from $350,000,000 to $175,000,000 and to extend the maturity date thereunder from June 29, 2023 to June 29, 2026 (collectively, the “Revolving Credit Agreements”), and that no material change, revision, amendment or addendum has been made to the Revolving Credit Agreements subsequent thereto.

    No changes were made to the U.S. Bank, N.A., $200,000,000 Revolving Credit Agreement. Final maturity date of June 28, 2024.

    No changes were made to the Bank of America, N.A., $250,000,000 Revolving Credit Agreement. Final maturity date of December 9, 2025.

    For more information, see SRP’s disclosure on EMMA.