Published on 9/16/2014 in the Prospect News Municipals Daily.
New Issue: Augusta, Ga., prices $183.11 million of water, sewerage revenue bonds
By Sheri Kasprzak
New York, Sept. 16 – The City of Augusta, Ga., sold $183.11 million of series 2014 water and sewerage revenue refunding and improvement bonds, according to a pricing sheet.
The bonds (A1/A+/) were sold competitively. The issuer did not return calls for the winning bidder.
The bonds are due 2015 to 2039 with 3% to 4.5% coupons.
Proceeds will be used to make capital improvements and extensions to the city’s water and sewer systems, as well as to refund the city’s series 2004 water and sewerage revenue bonds.
| Issuer: | City of Augusta, Ga.
|
| Issue: | Series 2104 water and sewerage revenue refunding and improvement bonds
|
| Amount: | $183.11 million
|
| Type: | Competitive
|
| Ratings: | Moody’s: A1
|
| Standard & Poor’s: A+
|
| Pricing date: | Sept. 16
|
| Settlement date: | Oct. 2
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $890,000 | 2015 | Serial | 3% | 102.788
|
| $920,000 | 2016 | Serial | 4% | 107.112
|
| $945,000 | 2017 | Serial | 4% | 109.614
|
| $975,000 | 2018 | Serial | 4% | 111.518
|
| $1,005,000 | 2019 | Serial | 4% | 112.506
|
| $1,035,000 | 2020 | Serial | 4% | 112.574
|
| $1,065,000 | 2021 | Serial | 4% | 112.373
|
| $1,105,000 | 2022 | Serial | 4% | 111.656
|
| $1.15 million | 2023 | Serial | 4% | 110.997
|
| $1.2 million | 2024 | Serial | 3% | 102.172
|
| $1,245,000 | 2025 | Serial | 3% | 101.296
|
| $1,285,000 | 2026 | Serial | 3% | 100
|
| $1,325,000 | 2027 | Serial | 3% | 98.936
|
| $1,365,000 | 2028 | Serial | 3% | 97.757
|
| $1.41 million | 2029 | Serial | 3.125% | 97.942
|
| $1.46 million | 2030 | Serial | 3.25% | 98.16
|
| $21,065,000 | 2033 | Serial | 4.5% | 109.523
|
| $21,825,000 | 2034 | Serial | 4% | 109.079
|
| $22.62 million | 2035 | Serial | 4.5% | 108.638
|
| $23,455,000 | 2036 | Serial | 4.5% | 108.198
|
| $24,325,000 | 2037 | Serial | 4.5% | 108.374
|
| $25.24 million | 2038 | Serial | 4.5% | 108.286
|
| $26.2 million | 2039 | Serial | 4.5% | 108.198
|
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