Published on 2/27/2013 in the Prospect News Municipals Daily.
New Issue: Massachusetts Water Resources brings $170.64 million of revenue refunding bonds
By Sheri Kasprzak
New York, Feb. 27 - The Massachusetts Water Resources Authority sold $170,635,000 of series 2013A general revenue refunding bonds, according to a pricing sheet.
The bonds (Aa1/AA+/AA+) were sold through Jefferies & Co., Barclays, BofA Merrill Lynch, Citigroup Global Markets Inc., Fidelity Capital Markets LLC, Janney Montgomery Scott LLC, Morgan Stanley & Co. LLC, Ramirez & Co. and Wells Fargo Securities LLC.
The bonds are due 2016 to 2032 with a term bond due in 2036. The serial coupons range from 3% to 5%. The 2036 bonds have a 5% coupon priced at 118.845.
Proceeds will be used to refund authority's series 2002D and 2008F general revenue bonds.
| Issuer: | Massachusetts Water Resources Authority
|
| Issue: | Series 2013A general revenue refunding bonds
|
| Amount: | $170,635,000
|
| Type: | Negotiated
|
| Underwriters: | Jefferies & Co., Barclays, BofA Merrill Lynch, Citigroup Global Markets Inc., Fidelity Capital Markets LLC, Janney Montgomery Scott LLC, Morgan Stanley & Co. LLC, Ramirez & Co. and Wells Fargo Securities LLC
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
| Fitch: AA+
|
| Pricing date: | Feb. 27
|
| Settlement date: | March 27
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $10 million | 2016 | Serial | 3% | 108.211
|
| $13.61 million | 2016 | Serial | 4% | 111.522
|
| $800,000 | 2017 | Serial | 3% | 109.824
|
| $39,515,000 | 2017 | Serial | 4% | 114.095
|
| $10,000 | 2018 | Serial | 4% | 115.855
|
| $800,000 | 2019 | Serial | 4% | 117.054
|
| $580,000 | 2020 | Serial | 4% | 117.55
|
| $1.88 million | 2021 | Serial | 4% | 117.906
|
| $5.08 million | 2022 | Serial | 4% | 118.088
|
| $20.54 million | 2022 | Serial | 5% | 126.62
|
| $1.66 million | 2023 | Serial | 4% | 118.091
|
| $29,645,000 | 2023 | Serial | 5% | 127.369
|
| $2,045,000 | 2024 | Serial | 5% | 126.304
|
| $285,000 | 2025 | Serial | 4% | 115.269
|
| $355,000 | 2026 | Serial | 4% | 114.478
|
| $5.34 million | 2027 | Serial | 5% | 123.688
|
| $5,615,000 | 2028 | Serial | 5% | 122.967
|
| $5.76 million | 2029 | Serial | 4% | 110.899
|
| $6,015,000 | 2030 | Serial | 4% | 110.425
|
| $6,295,000 | 2031 | Serial | 5% | 121.44
|
| $860,000 | 2032 | Serial | 4% | 109.86
|
| $5.77 million | 2032 | Serial | 5% | 121.036
|
| $8,175,000 | 2036 | Term | 5% | 118.845
|
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