Middlesex Water Co (MSEXP) bonds
MSEXPOTCWater SupplyFiscal year ends December 31Also trades as MSEX
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Oct 29, 2026Score 14/3011% below fair value
$492.00+0.00 (0.00%)
Close on Oct 19, 2026Market cap $1.09BP/E 20.8Yield 2.39%
Debt
Borrowings on the balance sheet, Sep 30, 2026
Total debt
$399.63M
$7.38M due within a year
Net debt
$397.93M
After $1.70M of cash
Implied interest rate
3.83%
FY2025 interest ÷ average debt
Interest coverage
3.8×
FY2025 operating income ÷ interest
Total debt by fiscal year
Long-term plus current debt, USD
When the debt comes due
Principal repayments of long-term debt by fiscal year, as scheduled at Dec 31, 2025
From the debt maturity table in the annual report (filing). “Later” is everything due after year five.
Notes and loans outstanding
As tagged in Middlesex Water's 10-Q for the period ended Jun 30, 2026
| Issue | Coupon | Matures | Amount issued | Carrying value |
|---|---|---|---|---|
| 5.99% FMBs due 2055 | 5.99% | 2055 | $30.00M | – |
| Amortizing Secured Notes | – | – | – | $63.97M |
| Amortizing Secured Notes | – | – | – | $80.49M |
| Amortizing Secured Notes And State Revolving Trust Notes | – | – | – | $276.80M |
| Amortizing Secured Notes And State Revolving Trust Notes | – | – | – | $259.50M |
| Construction Advances | – | – | – | $26.90M |
| First Mortgage Bonds | – | – | – | $300.43M |
| New Jersey SRF | – | – | $300.00M | – |
| State Revolving Trust Notes | – | – | – | $21.32M |
Companies tag their debt differently: some list every note, others group notes by issuance year or by type, so the list may not add up to total debt. Notes that matured before today are hidden. Source: 10-Q.
Credit facilities
Revolving credit lines and other committed borrowing capacity
| Facility | Size | Available | Drawn |
|---|---|---|---|
| Bank of America | $60.00M | $45.00M | $15.00M |
| CoBank | $20.00M | $10.00M | $10.00M |
| PNC Bank | $100.00M | $91.00M | $9.00M |
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