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 November 2023.
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2024 bond authorization
On September 5, 2024, The Arizona Corporation Commission (ACC) approved SRP’s request to issue up to $6.4 billion in tax-exempt revenue bonds to help finance new generation, transmission and distribution projects that are needed to support the growth of the Phoenix metropolitan area and help ensure reliable, affordable and sustainable power for SRP customers.
The ACC also approved up to $7 billion in revenue refunding bonds to refinance debt and lower borrowing costs for SRP, which helps keep costs down for customers.
While the ACC approved the total amount of revenue bonds that SRP may issue over time, the SRP Board of Directors and SRP Council must approve each separate bond sale, when needed.
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 revenue bonds to support capital projects and, when necessary, enhance existing infrastructure.
SRP revenue 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 |
| 2023 Series B |
650,000,000 | 11/21/2023 |
| 2023 Series A |
500,000,000 | 2/28/2023 |
| 2022 Series A |
193,065,000 | 3/4/2022 |
| 2021 Series A |
277,400,000 | 10/1/2020 |
| 2020 Series B |
100,000,000 | 10/1/2020 |
| 2020 Series A |
224,670,000 | 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.
Stay in the know
See the latest updates and notices about SRP’s financial decisions.
Independent Registered Municipal Advisor information (IRMA)
Effective May 23, 2022, SRP has retained PFM Financial Advisors, LLC ("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 Advisor
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.
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