By Sheri Kasprzak
New York, Jan. 21 - The San Antonio Water System sold $175 million in series 2009 water system revenue and refunding bonds Wednesday, said Doug Evanson, chief financial officer with the system.
The bonds (Aa2/AA/AA) are due 2009 to 2039 and priced with coupons from 3% to 5.375%. The yields ranged from 0.5% in 2009 to 5.4% in 2039.
Citigroup Global Markets Inc. and J.P. Morgan Securities Inc. were the lead managers.
The co-managers were Cabrera Capital Markets LLC, Coastal Securities Inc. and Loop Capital Markets LLC.
Proceeds will be used to construct, equip, expand and improve the city's water system, as well as refund outstanding commercial paper notes.
| Issuer: | San Antonio Water System
|
| Issue: | Series 2009 water system revenue and refunding bonds
|
| Amount: | $175 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. and J.P. Morgan Securities Inc. (leads), Cabrera Capital Markets LLC, Coastal Securities Inc. and Loop Capital Markets LLC
|
| Maturities: | 2009 to 2039
|
| Coupons: | 3% to 5.375%
|
| Yields: | 0.5% to 5.4%
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Fitch: AA
|
| Pricing date: | Jan. 21
|
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