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Aqua America, Inc. (Form: 8-K)  

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

     
Date of Report (Date of Earliest Event Reported):   October 22, 2010

Aqua America, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)

     
Pennsylvania 001-06659 23-1702594
_____________________
(State or other jurisdiction 		_____________
(Commission 		______________
(I.R.S. Employer
of incorporation) File Number) Identification No.)
      
762 West Lancaster Avenue, Bryn Mawr, Pennsylvania   19010-3489
_________________________________
(Address of principal executive offices) 		  ___________
(Zip Code)
     
Registrant’s telephone number, including area code:   610-527-8000

Not Applicable
______________________________________________
Former name or former address, if changed since last report

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Item 8.01 Other Events.

On October 22, 2010, Aqua America, Inc. (the "Registrant") announced that the Pennsylvania Public Utility Commission approved the Registrant’s plan to issue up to $143.4 million of aggregate principal amount of long-term, first mortgage bonds. In accordance with Rule 135c(d) of the Securities Act of 1933, a copy of the press release containing this announcement is filed as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference.





Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

99.1 Press release dated October 22, 2010.





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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

         
    Aqua America, Inc.
          
October 26, 2010   By:   Roy H. Stahl
       
        Name: Roy H. Stahl
        Title: Chief Administrative Officer, General Counsel and Secretary

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Exhibit Index


     
Exhibit No.   Description
 
99.1
  Press release dated October 22, 2010.
EX-99.1

FOR RELEASE: October 22, 2010  

Contact: Brian Dingerdissen
Director, Investor Relations
610.645.1191
bjdingerdissen@aquaamerica.com
 
Donna Alston
Director, Communications
610.645.1095
dpalston@aquaamerica.com
 

 

AQUA PENNSYLVANIA PLANS TO ISSUE UP TO $143.4M OF
FIRST MORTGAGE BONDS

BRYN MAWR, PA, October 22, 2010 – Aqua Pennsylvania, Inc. (Aqua) announced today that the Pennsylvania Public Utility Commission approved the company’s plan to issue up to $143.4 million of aggregate principal amount of long-term, first mortgage bonds. The first mortgage bonds will be issued by Aqua to secure two series of tax-exempt revenue bonds to be issued by the Pennsylvania Economic Development Financing Authority (“PEDFA”) on behalf of Aqua. The proceeds from the PEDFA bonds will be used by Aqua to help finance part of the company’s $1 billion multi-year capital plan to enhance the delivery infrastructure system for its customers in Pennsylvania.

PEDFA will issue two series of its revenue bonds on behalf of the company. Interest on the 2010 Series A bonds to be issued by PEDFA will be subject to Alternative Minimum Tax. Interest on the 2010 Series B bonds will be exempt from individual and corporate AMT. Both series of bonds will be issued in denominations of $5,000 principal amount and any integral multiple thereof. The 2010 Series A will be offered to institutional investors and the 2010 Series B bonds will be offered to both retail and institutional investors. Pricing of the PEDFA bonds is expected to occur on October 25 and 26, 2010.

This release does not constitute an offer of any securities for sale or the solicitation of an offer to buy any securities. The securities will not be registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration.

Aqua Pennsylvania is the largest operating subsidiary of America, Inc. — a U.S.-based publicly traded water and wastewater utility holding company, serving approximately 3 million people in Pennsylvania, New York, Ohio, North Carolina, Illinois, Texas, Florida, New Jersey, Indiana, Virginia, Maine, Missouri, South Carolina and Georgia. Aqua America is listed on the New York Stock Exchange under the ticker symbol WTR.

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others, the expected amount and timing of the issuance of the Company’s bonds and PEDFA’s bonds, the expected use of the proceeds of the bonds and the effect of the Company’s capital plan on the Company’s infrastructure. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements including: general economic business conditions; disruptions in the credit markets; and other factors discussed in the Company’s Annual Report on Form 10-K, which is on file with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statement.  

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WTRF