By Sheri Kasprzak
New York, May 25 - The City of Farmington, N.M., priced $343.55 million in series 2010 pollution control refunding revenue bonds on Tuesday, according to a pricing sheet.
The sale included $40.05 million in series 2010A bonds, $37 million in series 2010B bonds, $65 million in series 2010C bonds, $130 million in series 2010D bonds, $60 million in series 2010E bonds and $11.5 million in series 2010F bonds.
The bonds (//A+) were sold on a negotiated basis with J.P. Morgan Securities Inc. as the lead manager.
All of the bonds are due June 1, 2040, and all priced at par. The 2010A bonds have a 5.2% coupon, the 2010B bonds have a 4.75% coupon and the 2010C bonds have a 5.9% coupon. The 2010D bonds have a 5.9% coupon, and the 2010E bonds have a 5.9% coupon as well. The 2010F bonds have a 6.25% coupon.
Proceeds will refund existing pollution control revenue bonds.
| Issuer: | City of Farmington, N.M.
|
| Issue: | Series 2010 pollution control refunding revenue bonds
|
| Amount: | $343.55 million
|
| Type: | Negotiated
|
| Underwriter: | J.P. Morgan Securities Inc. (lead)
|
| Rating: | Fitch: A+
|
| Pricing date: | May 25
|
| Settlement date: | June 9
|
|
|
| Series 2010A
|
| Maturity | Type | Coupon | Price
|
| June 1, 2040 | Term | 5.2% | 100
|
|
|
| Series 2010B
|
| Maturity | Type | Coupon | Price
|
| June 1, 2040 | Term | 4.75% | 100
|
|
|
| Series 2010C
|
| Maturity | Type | Coupon | Price
|
| June 1, 2040 | Term | 5.9% | 100
|
|
|
| Series 2010D
|
| Maturity | Type | Coupon | Price
|
| June 1, 2040 | Term | 5.9% | 100
|
|
|
| Series 2010E
|
| Maturity | Type | Coupon | Price
|
| June 1, 2040 | Term | 5.9% | 100
|
|
|
| Series 2010F
|
| Maturity | Type | Coupon | Price
|
| June 1, 2040 | Term | 6.25% | 100
|
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