Published on 6/6/2013 in the Prospect News Municipals Daily.
New Issue: Metro District of Hartford County, Conn., sells $85 million clean water bonds
By Sheri Kasprzak
New York, June 6 - The Metropolitan District of Hartford County, Conn., sold $85 million of series 2013A clean water project revenue bonds, according to a pricing sheet.
The bonds (Aa2/AA/) were sold through senior manager J.P. Morgan Securities LLC.
The bonds are due 2014 to 2033 with term bonds due in 2036 and 2039. The serial coupons range from 2% to 5%, and yields range from 0.2% to 3.4%. The 2036 bonds have a 5% coupon priced at 110.456 to yield 3.6%. The 2039 bonds have a split maturity with a 4% coupon priced at 98.569 to yield 4.09% and a 5% coupon priced at 109.51 to yield 3.72%.
Proceeds will be used to finance sewer and clean water projects.
| Issuer: | Metropolitan District of Hartford County
|
| Issue: | Series 2013A clean water project revenue bonds
|
| Amount: | $85 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead), Estrada Hinojosa & Co. Inc., Roosevelt & Cross Inc. and Siebert Brandford Shank & Co. LLC (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Pricing date: | June 6
|
| Settlement date: | June 19
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1 million | 2014 | Serial | 2% | 101.408 | 0.2%
|
| $1 million | 2015 | Serial | 4% | 106.26 | 0.47%
|
| $1 million | 2016 | Serial | 5% | 111.772 | 0.72%
|
| $1 million | 2017 | Serial | 5% | 114.933 | 0.97%
|
| $1 million | 2018 | Serial | 2.25% | 104.77 | 1.22%
|
| $1 million | 2019 | Serial | 4% | 113.323 | 1.58%
|
| $1 million | 2020 | Serial | 5% | 119.991 | 1.85%
|
| $1 million | 2021 | Serial | 5% | 120.401 | 2.14%
|
| $1 million | 2022 | Serial | 5% | 120.916 | 2.35%
|
| $1 million | 2023 | Serial | 5% | 119.863 | 2.47%
|
| $1 million | 2024 | Serial | 5% | 118.389 | 2.64%
|
| $1 million | 2025 | Serial | 5% | 117.276 | 2.77%
|
| $1 million | 2026 | Serial | 3.25% | 98.963 | 3.35%
|
| $1 million | 2027 | Serial | 3.25% | 97.817 | 3.45%
|
| $1 million | 2028 | Serial | 3.375% | 97.996 | 3.55%
|
| $1,185,000 | 2029 | Serial | 5% | 113.601 | 3.21%
|
| $1.33 million | 2030 | Serial | 5% | 113.11 | 3.27%
|
| $3.51 million | 2031 | Serial | 5% | 112.541 | 3.34%
|
| $5.55 million | 2032 | Serial | 5% | 112.056 | 3.4%
|
| $7,425,000 | 2033 | Serial | 5% | 109.218 | 2.92%
|
| $27 million | 2036 | Term | 5% | 110.456 | 3.6%
|
| $19 million | 2039 | Term | 4% | 98.569 | 4.09%
|
| $5 million | 2039 | Term | 5% | 109.51 | 3.72%
|
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