By Sheri Kasprzak
New York, Nov. 1 - The American Water Works Co. Inc. sold $75 million of series 2010 refunding bonds on Monday through the New Jersey Economic Development Authority, according to a pricing sheet.
The issuance included $35 million in series 2010D bonds and $40 million in series 2010E bonds.
The 2010D bonds are due Nov. 1, 2029 and have a 4.875% coupon priced at par. The 2010E bonds are due Dec. 1, 2025 and have a 4.7% coupon priced at par.
Morgan Stanley & Co. Inc. was the senior manager with Sturdivant & Co. as the co-manager.
Proceeds will be used to refund two outstanding bond issues.
Located in Voorhees, N.J., the company provides water utility services.
| Issuer: | New Jersey Economic Development Authority/American Water Works Co. Inc.
|
| Issue: | Series 2010 refunding bonds
|
| Amount: | $75 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. Inc. (lead), Sturdivant & Co. (co-manager)
|
| Pricing date: | Nov. 1
|
|
|
| $35 million series 2010D
|
| Maturity | Type | Coupon | Price
|
| Nov. 1, 2029 | Term | 4.875% | 100
|
|
|
| $40 million series 2010E
|
| Maturity | Type | Coupon | Price
|
| Dec. 1, 2025 | Term | 4.7% | 100
|
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