By Cristal Cody
Springdale, Ark., March 20 - The Albuquerque Bernalillo County Water Utility Authority in New Mexico priced $55.6 million revenue bonds with a 5.051% true interest cost, the issuer said Thursday.
The series 2008 joint water and sewer system improvement bonds (Aa2/AAA/AA+) priced Wednesday with 4.83% to 5.07% coupons to yield 5.08%, said Mark Sanchez, executive director.
The bonds have maturities from 2026 to 2030 and a term bond due 2033.
RBC Capital Markets managed the negotiated sale.
Proceeds will be used to make system improvements and fund the San Juan Chama drinking water project.
| Issuer: | Albuquerque Bernalillo County Water Utility Authority
|
| Issue: | Revenue bonds
|
| Amount: | $55.6 million
|
| Type: | Negotiated
|
| Maturities: | 2026 to 2030, term bond due 2033
|
| True interest cost: | 5.051%
|
| Yield: | 5.08%
|
| Underwriter: | RBC Capital Markets
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AAA
|
| Fitch: AA+
|
| Pricing date: | March 19
|
|
|
| Series 2008
|
| Maturity | Type | Coupons | Yields
|
| 2026 | Serial | 4.83% | 5.08%
|
| 2027 | Serial | 4.89% | 5.08%
|
| 2028 | Serial | 4.94% | 5.08%
|
| 2029 | Serial | 4.98% | 5.08%
|
| 2030 | Serial | 5.02% | 5.08%
|
| 2033 | Term | 5.07% | 5.08%
|
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