New Issue: Public Finance Authority, Wis., prices $161.62 million Celanese bonds

By Sheri Kasprzak

New York, Feb. 22 – The Public Finance Authority of Wisconsin sold $161,615,000 of series 2016 exempt facilities revenue refunding bonds, according to a pricing sheet.

The deal included $35,875,000 of series 2016A AMT bonds, $40,295,000 of series 2016B AMT bonds, $66.46 million of series 2016C AMT bonds and $18,985,000 of series 2016D non-AMT bonds.

The 2016A bonds are due in 2024 and have a 5% coupon priced at 111.492 to yield 3.32%, and the 2016B bonds are due in 2025 and have a 5% coupon priced at 111.676 to yield 3.57%. The 2016C bonds are due in 2030 and have a 4.3% coupon priced at par, and the 2016D bonds are due 2030 with a 4.05% coupon priced at par.

The bonds were sold through senior manager Morgan Stanley & Co. LLC.

Proceeds will be used to refund $170,445,000 outstanding bonds, including the authority’s series 1994, 1995, 1996 and 2002A-B revenue bonds issued on behalf of Celanese Corp.

Issuer:	Public Finance Authority/Celanese Corp.
Issue:	Series 2016 exempt facilities revenue refunding bonds
Amount:	$161,615,000
Type:	Negotiated
Underwriter:	Morgan Stanley & Co. LLC
Pricing date:	Feb. 18
Settlement date:	March 3
$35,875,000 series 2016A AMT bonds
Maturity	Type	Coupon	Price	Yield
2024	Term	5%	111.492	3.32%
$40,295,000 series 2016B AMT bonds
Maturity	Type	Coupon	Price	Yield
2025	Term	5%	111.676	3.57%
$66.46 million series 2016C AMT bonds
Maturity	Type	Coupon	Price	Yield
2030	Term	4.3%	100	4.30%
$18,985,000 series 2016D non-AMT bonds
Maturity	Type	Coupon	Price	Yield
2030	Term	4.05%	100	4.05%

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