Albuquerque Bernalillo County Water, N.M., plans $185.2 million bonds

By Sheri Kasprzak

New York, Aug. 11 – The Albuquerque Bernalillo County Water Utility Authority of New Mexico is expected to price $185,155,000 of series 2014 water and sewer system refunding revenue bonds, according to a preliminary official statement.

The deal includes $97,165,000 of series 2014A senior lien bonds (Aa2/AA+/AA) and $87.99 million of series 2014B subordinate lien bonds (Aa3/AA/AA).

The 2014A bonds are due 2015 to 2026, and the 2014B bonds are due 2015 to 2025.

The bonds will be sold on a negotiated basis with J.P. Morgan Securities LLC as the senior manager. The co-managers are Baird & Co., Stifel, Nicolaus & Co. and Piper Jaffray & Co. Inc.

Proceeds will be used to advance refund the authority’s series 2005 New Mexico Public Project revolving fund loan agreement and its series 2006A revenue bonds.

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