Published on 8/14/2012 in the Prospect News Municipals Daily.
New Issue: Indiana sells $192.13 million wastewater bonds for CWA Authority
By Sheri Kasprzak
New York, Aug. 14 - The Indiana Finance Authority sold $192,125,000 of series 2012 first-lien wastewater utility revenue bonds for CWA Authority Inc., according to a pricing sheet.
The bonds (A1/AA/) were sold through Morgan Stanley & Co. LLC with City Securities Corp., J.P. Morgan Securities LLC and Wells Fargo Securities LLC as co-managers.
The bonds are due 2014 to 2032 with term bonds due in 2037 and 2042. The serial coupons range from 2.75% to 5%. The 2037 bonds have a 5% coupon priced at 112.418, and the 2042 bonds have a 4% coupon priced at par.
Proceeds will be used to fund improvements to the wastewater system and repay draws made on the Wells Line.
Issuer: | Indiana Finance Authority/CWA Authority Inc.
|
Issue: | Series 2012 first-lien wastewater utility revenue bonds
|
Amount: | $192,125,000
|
Type: | Negotiated
|
Underwriter: | Morgan Stanley & Co. LLC (lead), City Securities Corp., J.P. Morgan Securities LLC and Wells Fargo Securities LLC (co-managers)
|
Ratings: | Moody's: A1
|
| Standard & Poor's: AA
|
Pricing date: | Aug. 7
|
Settlement date: | Sept. 19
|
|
Amount | Maturity | Type | Coupon | Price
|
$3,245,000 | 2014 | Serial | 4% | 107.092
|
$3,375,000 | 2015 | Serial | 4% | 110.014
|
$3.51 million | 2016 | Serial | 4% | 112.633
|
$3.65 million | 2017 | Serial | 5% | 119.315
|
$3,835,000 | 2018 | Serial | 5% | 121.015
|
$4,025,000 | 2019 | Serial | 5% | 122.01
|
$4,225,000 | 2020 | Serial | 5% | 122.576
|
$4.44 million | 2021 | Serial | 2.75% | 104.566
|
$4.56 million | 2022 | Serial | 5% | 123.562
|
$4.79 million | 2023 | Serial | 5% | 122.062
|
$5.03 million | 2024 | Serial | 5% | 120.682
|
$5.28 million | 2025 | Serial | 5% | 119.513
|
$5,545,000 | 2026 | Serial | 5% | 118.645
|
$5.82 million | 2027 | Serial | 5% | 117.976
|
$6.11 million | 2028 | Serial | 5% | 117.311
|
$6,415,000 | 2029 | Serial | 5% | 116.65
|
$6.74 million | 2030 | Serial | 5% | 115.994
|
$7,075,000 | 2031 | Serial | 5% | 115.435
|
$7.43 million | 2032 | Serial | 5% | 114.879
|
$43.1 million | 2037 | Term | 5% | 112.418
|
$53,925,000 | 2042 | Term | 4% | 100
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.