BRYN MAWR, Pa.--(BUSINESS WIRE)--Aqua America Inc. (NYSE:WTR) today announced it has priced its public offering of $400 million aggregate principal amount of its 3.566% senior notes due 2029 and $500 million aggregate principal amount of its 4.276% senior notes due 2049. Aqua anticipates that the offering will close April 26, 2019, subject to customary closing conditions.

Aqua intends to use the net proceeds from the senior notes offering, together with the net proceeds from Aqua’s previously completed common stock offering and tangible equity unit offering, as well as the proceeds from Aqua’s previously announced investment from Canada Pension Plan Investment Board, (1) to fund the previously announced acquisition of Peoples, (2) to complete the redemption of approximately $314 million aggregate principal amount of certain of Aqua’s outstanding notes, (3) to pay related costs and expenses and (4) for general corporate purposes. Following the completion of this offering and upon the consummation of the CPPIB investment, the permanent financing for the acquisition will be in place.

About Aqua America

Aqua America is the second-largest publicly traded water utility based in the U.S., and serves more than 3 million people in Pennsylvania, Ohio, North Carolina, Illinois, Texas, New Jersey, Indiana and Virginia.