By Sheri Kasprzak
New York, Nov. 19 - The Illinois Municipal Electric Agency priced $140.29 million of series 2010A power supply system revenue bonds on Thursday, according to a pricing sheet.
The bonds (A1/A+/A+) were sold through J.P. Morgan Securities LLC. The co-managers were BMO Capital Markets, Edward Jones & Co. LP, PNC Capital Markets LLC and Wells Fargo Securities LLC.
The bonds are due 2013 to 2022 with term bonds due 2025 and 2035. Coupons range from 2.473% to 5.799%. The 2025 bonds have a 6.399% coupon priced at par. The 2035 bonds have a 7.288% coupon, also priced at par.
Proceeds will be used to construct new power generation facilities and acquire power supply interests.
The agency, based in Springfield, Ill., is a consortium of 39 municipal electric power utilities.
| Issuer: | Illinois Municipal Electric Agency
|
| Issue: | Series 2010A power supply system revenue bonds
|
| Amount: | $140.29 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead), BMO Capital Markets, Edward Jones & Co. LP, PNC Capital Markets LLC and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
| Fitch: A+
|
| Pricing date: | Nov. 18
|
| Settlement date: | Nov. 30
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $4.11 million | 2013 | Serial | 2.473% | 100
|
| $4.18 million | 2014 | Serial | 3.203% | 100
|
| $4.265 million | 2015 | Serial | 3.603% | 100
|
| $4.365 million | 2016 | Serial | 4.284% | 100
|
| $4.485 million | 2017 | Serial | 4.484% | 100
|
| $4.62 million | 2018 | Serial | 4.999% | 100
|
| $4.765 million | 2019 | Serial | 5.199% | 100
|
| $4.93 million | 2020 | Serial | 5.399% | 100
|
| $5.1 million | 2021 | Serial | 5.599% | 100
|
| $5.285 million | 2022 | Serial | 5.799% | 100
|
| $17.15 million | 2025 | Term | 6.399% | 100
|
| $77.035 million | 2035 | Term | 7.288% | 100
|
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