Published on 9/17/2014 in the Prospect News Municipals Daily.
New Issue: Augusta, Ga., details $183.11 million of water, sewerage revenue bonds
By Sheri Kasprzak
New York, Sept. 17 – The City of Augusta, Ga., released additional information on its $183.11 million of series 2014 water and sewerage revenue refunding and improvement bonds.
The bonds (A1/A+/) were sold competitively with Citigroup Global Markets Inc. winning the bid at a 3.867825% true interest cost.
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
|
| Underwriter: | Citigroup Global Markets Inc. (winner)
|
| TIC: | 3.867825%
|
| 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
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
