Published on 8/20/2014 in the Prospect News Municipals Daily.
New Issue: Albuquerque Bernalillo County Water, N.M., sells $182.98 million bonds
By Sheri Kasprzak
New York, Aug. 20 – The Albuquerque Bernalillo County Water Utility Authority of New Mexico priced $182,975,000 of series 2014 water and sewer system refunding revenue bonds, said a pricing sheet.
The deal included $96,065,000 of series 2014A senior lien bonds (Aa2/AA+/AA) and $86.91 million of series 2014B subordinate lien bonds (Aa3/AA/AA).
The 2014A bonds are due 2016 to 2026 with 2% to 5% coupons.
The 2014B bonds are due 2015 to 2025 with coupons from 1% to 5%.
The bonds were sold through J.P. Morgan Securities LLC.
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.
| Issuer: | Albuquerque Bernalillo County Water Utility Authority
|
| Issue: | Series 2014 water and sewer system refunding revenue bonds
|
| Amount: | $182,975,000
|
| Type: | Negotiated
|
| Underwriter: | J.P. Morgan Securities LLC (lead)
|
| Pricing date: | Aug. 20
|
| Settlement date: | Sept. 24
|
|
|
| $96,065,000 series 2014A senior lien bonds (Aa2/AA+/AA)
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.09 million | 2016 | Serial | 3% | 104.633
|
| $7.87 million | 2017 | Serial | 5% | 112.007
|
| $8.11 million | 2018 | Serial | 5% | 115.04
|
| $8,475,000 | 2019 | Serial | 5% | 117.46
|
| $1,575,000 | 2020 | Serial | 2% | 102.529
|
| $7.28 million | 2020 | Serial | 5% | 119.028
|
| $9.28 million | 2021 | Serial | 2.25% | 120.305
|
| $2,185,000 | 2022 | Serial | 2.25% | 101.5
|
| $7,635,000 | 2022 | Serial | 5% | 121.165
|
| $10,305,000 | 2023 | Serial | 5% | 121.949
|
| $10.82 million | 2024 | Serial | 5% | 123.204
|
| $11.29 million | 2025 | Serial | 5% | 121.837
|
| $5 million | 2026 | Serial | 5% | 101.868
|
| $5.15 million | 2026 | Serial | 5% | 120.776
|
|
|
| $86.91 million series 2014B subordinate lien bonds (Aa3/AA/AA)
|
| Amount | Maturity | Type | Coupon | Price
|
| $445,000 | 2015 | Serial | 1% | 100.576
|
| $8,945,000 | 2016 | Serial | 3% | 104.561
|
| $10,725,000 | 2017 | Serial | 5% | 111.743
|
| $2,005,000 | 2018 | Serial | 2% | 103.576
|
| $6 million | 2018 | Serial | 5% | 114.639
|
| $2.09 million | 2019 | Serial | 2% | 103.038
|
| $6 million | 2019 | Serial | 5% | 116.853
|
| $2,235,000 | 2020 | Serial | 2% | 101.806
|
| $6 million | 2020 | Serial | 5% | 118.24
|
| $8.25 million | 2021 | Serial | 5% | 119.601
|
| $8.45 million | 2022 | Serial | 5% | 120.368
|
| $8,525,000 | 2023 | Serial | 5% | 120.975
|
| $8,585,000 | 2024 | Serial | 5% | 122.031
|
| $8,655,000 | 2025 | Serial | 5% | 120.872
|
|
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