YORW · York Water Co · Debt

On February 27, 2024, The York Water Company (the "Company") entered into a Note Purchase Agreement (the "Note Purchase Agreement") with certain institutional investors (the "Note Purchasers") relating to the private placement of $40 million aggregate principal amount of the Company’s 5.67% Senior Notes due February 27, 2054 (the "Notes"). The private placement of the Notes is exempt from registration under the Securities Act of 1933, as amended. Interest on the Notes will be payable semi-annually on August 27 and February 27 of each year. The Notes will be unsecured and unsubordinated obligations of the Company, ranking pari passu in all respects with the Company’s existing and future unsecured and unsubordinated indebtedness. The Note Purchase Agreement provides that if any subsidiary of the Company guarantees or otherwise becomes liable for the Company’s obligations under a material credit facility (as defined), the subsidiary will provide a guaranty of payment of the Notes and compliance with the Note Purchase Agreement. The net proceeds from the sale of the Notes will be used to refinance short-term debt incurred by the Company as interim financing for various capital projects of the Company, and for general corporate purposes. The pricing of the Notes occurred on February 1, 2024 and funding occurred on February 27, 2024.

Issuer evidence: On February 27, 2024, The York Water Company (the "Company") entered into a Note Purchase Agreement (the "Note Purchase Agreement") with certain institutional investors (the "Note Purchasers") relating to the private placement of $40 million aggregate principal amount of the Company’s 5.67% Senior Notes due February 27, 2054 (the "Notes"). The private placement of the Notes is exempt from registration under the Securities Act of 1933, as amended. Interest on the Notes will be payable semi-annually on August 27 and February 27 of each year. The Notes will be unsecured and unsubordinated obligations of the Company, ranking pari passu in all respects with the Company’s existing and future unsecured and unsubordinated indebtedness. The Note Purchase Agreement provides that if any subsidiary of the Company guarantees or otherwise becomes liable for the Company’s obligations under a material credit facility (as defined), the subsidiary will provide a guaranty of payment of the Notes and compliance with the Note Purchase Agreement. The net proceeds from the sale of the Notes will be used to refinance short-term debt incurred by the Company as interim financing for various capital projects of the Company, and for general corporate purposes. The pricing of the Notes occurred on February 1, 2024 and funding occurred on February 27, 2024.