INVITATION TO OFFER BONDS FOR PURCHASE

made by the

UTILITY DEBT SECURITIZATION AUTHORITY




Thank you for visiting the website for Invitation to Tender (the “Invitation”) regarding the above listed Bonds.



Key Dates and Times


All of these dates and times are subject to change and to all conditions described in this Invitation and related materials. All times are New York City time.
Notices of changes will be sent in the manner provided for in this Invitation

Expiration Date: 5:00 p.m. on December 1, 2025
Notice of Results: Before 5:00 p.m. on December 2, 2025
Notice of Acceptance of Target Bonds for Purchase: At or Before 5:00 p.m. on December 5, 2025
Settlement Date: December 15, 2025




1) The Utility Debt Securitization Authority (the “Authority”) and their agents DO NOT recommend to you whether or not to offer your bonds for purchase. You are responsible for your own decisions regarding this and should consult your own financial advisors about it.

2) The only authorized information about the Invitation is the printed information prepared by the Authority and their agents.

3) Information is posted on this website for the purpose of your convenience only. You may contact the Information Agent to receive personal copies of the Invitation. If there is a difference between the paper copies and the electronic versions of the documents, the paper copies from the Information Agent are correct.



INFORMATION FOR BONDHOLDERS

Invitation to Offer Bonds for Purchase dated November 14, 2025

Letter to Bondholders dated November 14, 2025





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Globic Advisors

477 Madison Avenue, 6th floor
New York NY, 10022

7777 Glades Road, Suite 100
Boca Raton FL, 33434

Telephone: (212) 227-9699