Published on 11/17/2014 in the Prospect News Municipals Daily.
New Issue: Indiana Municipal Power prices $167.73 million of power system bonds
By Sheri Kasprzak
New York, Nov. 17 – The Indiana Municipal Power Agency sold $167.73 million of series 2014A power supply system refunding revenue bonds, according to a pricing sheet.
The bonds (/A+/) were sold through Citigroup Global Markets Inc.
The bonds are due 2019 to 2032 with 5% coupons and yields from 1.08% to 3.21%.
Proceeds will be used to refund outstanding debt.
| Issuer: | Indiana Municipal Power Agency
|
| Issue: | Series 2014A power supply system refunding revenue bonds
|
| Amount: | $167.73 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead), Barclays, BMO Capital Markets Corp., City Securities Corp., J.P. Morgan Securities LLC, PNC Capital Markets LLC and Wells Fargo Securities LLC (co-managers)
|
| Rating: | Standard & Poor’s: A+
|
| Pricing date: | Oct. 31
|
| Settlement date: | Dec. 11
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $4,805,000 | 2019 | Serial | 5% | 115.513 | 1.08%
|
| $4.92 million | 2020 | Serial | 5% | 117.671 | 1.37%
|
| $4.79 million | 2021 | Serial | 5% | 119.102 | 1.67%
|
| $5,035,000 | 2022 | Serial | 5% | 119.866 | 1.97%
|
| $5,285,000 | 2023 | Serial | 5% | 120.074 | 2.26%
|
| $12.37 million | 2024 | Serial | 5% | 120.415 | 2.47%
|
| $12,995,000 | 2025 | Serial | 5% | 121.114 | 2.60%
|
| $13,645,000 | 2026 | Serial | 5% | 119.841 | 2.73%
|
| $14.32 million | 2027 | Serial | 5% | 118.681 | 2.85%
|
| $15,045,000 | 2028 | Serial | 5% | 117.628 | 2.96%
|
| $17,155,000 | 2029 | Serial | 5% | 116.964 | 3.03%
|
| $17.98 million | 2030 | Serial | 5% | 116.211 | 3.11%
|
| $18,845,000 | 2031 | Serial | 5% | 115.743 | 3.16%
|
| $20.54 million | 2032 | Serial | 5% | 115.277 | 3.21%
|
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