By Sheri Kasprzak
New York, July 21 - JEA in Jacksonville, Fla., priced $189.42 million in series 2010 revenue bonds on Wednesday, according to a pricing sheet.
The offering included $7.015 million in series 2010A water and sewer system subordinated revenue bonds and $182.405 million in series 2010D water and sewer revenue bonds.
The 2010A bonds are due 2013 to 2022 with coupons from 3% to 5%. The 2010D bonds are due 2010 to 2030 with term bonds due 2036 and 2039. The series 2010D serial coupons range from 2.5% to 5%. The 2036 bonds have a 4.75% coupon priced at 98.377. The 2039 bonds have a 5% coupon priced at 104.021.
Wells Fargo Securities LLC was the senior manager. The co-managers are Citigroup Global Markets Inc., J.P. Morgan Securities Inc., Barclays Capital Inc., Bank of America Merrill Lynch, Goldman Sachs & Co. and Morgan Stanley & Co. Inc.
Proceeds will be used to refund outstanding bonds.
| Issuer: | JEA
|
| Issue: | Series 2010 water and sewer revenue bonds
|
| Amount: | $189.42 million
|
| Type: | Negotiated
|
| Underwriters: | Wells Fargo Securities LLC (lead); Citigroup Global Markets Inc., J.P. Morgan Securities Inc., Barclays Capital Inc., Bank of America Merrill Lynch, Goldman Sachs & Co. and Morgan Stanley & Co. Inc. (co-managers)
|
| Pricing date: | July 21
|
|
|
| Series 2010A
|
| Maturity | Type | Coupon | Price
|
| 2013 | Serial | 3% | 105.332
|
| 2014 | Serial | 3% | 105.719
|
| 2015 | Serial | 3% | 104.392
|
| 2016 | Serial | 3% | 102.818
|
| 2017 | Serial | 5% | 114.311
|
| 2018 | Serial | 5% | 114.078
|
| 2019 | Serial | 5% | 113.877
|
| 2020 | Serial | 5% | 113.779
|
| 2021 | Serial | 5% | 112.068
|
| 2022 | Serial | 5% | 110.947
|
|
|
| Series 2010D
|
| Maturity | Type | Coupon | Price
|
| 2010 | Serial | 3% | 100.299
|
| 2011 | Serial | 4% | 103.812
|
| 2012 | Serial | 4% | 106.636
|
| 2013 | Serial | 5% | 111.654
|
| 2014 | Serial | 5% | 113.963
|
| 2015 | Serial | 3% | 104.938
|
| 2016 | Serial | 2.5% | 100
|
| 2016 | Serial | 5% | 114.829
|
| 2017 | Serial | 2.75% | 99.103
|
| 2017 | Serial | 5% | 115.147
|
| 2018 | Serial | 3.125% | 99.819
|
| 2018 | Serial | 5% | 115.243
|
| 2019 | Serial | 3.375% | 99.802
|
| 2019 | Serial | 5% | 115.776
|
| 2020 | Serial | 3.5% | 99.155
|
| 2020 | Serial | 3.6% | 100
|
| 2020 | Serial | 5% | 115.168
|
| 2021 | Serial | 3.75% | 100
|
| 2021 | Serial | 5% | 113.378
|
| 2022 | Serial | 3.9% | 100
|
| 2022 | Serial | 4% | 102.732
|
| 2022 | Serial | 5% | 112.242
|
| 2023 | Serial | 4% | 100
|
| 2023 | Serial | 5% | 111.463
|
| 2024 | Serial | 4% | 98.932
|
| 2024 | Serial | 5% | 110.435
|
| 2025 | Serial | 4.125% | 98.832
|
| 2025 | Serial | 4.2% | 99.663
|
| 2026 | Serial | 4% | 98.13
|
| 2026 | Serial | 4.25% | 99.074
|
| 2026 | Serial | 4.3% | 99.65
|
| 2027 | Serial | 4% | 97.096
|
| 2027 | Serial | 4.375% | 99.34
|
| 2028 | Serial | 4.375% | 98.093
|
| 2028 | Serial | 4.5% | 99.627
|
| 2029 | Serial | 4.5% | 98.732
|
| 2030 | Serial | 4.5% | 98.177
|
| 2036 | Term | 4.75% | 98.377
|
| 2039 | Term | 5% | 104.021
|
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