Published on 8/14/2012 in the Prospect News Municipals Daily.
New Issue: Metro St. Louis Sewer District, Mo., sells $225 million wastewater system bonds
By Sheri Kasprzak
New York, Aug. 14 - The Metropolitan St. Louis Sewer District sold $225 million of series 2012A wastewater system revenue bonds, according to a pricing sheet.
The bonds (Aa1/AAA/AA+) were sold through senior manager Bank of America Merrill Lynch.
The bonds are due 2016 to 2036 with term bonds due in 2039 and 2042. The serial coupons range from 2.5% to 5.25%. The 2039 bonds have a 4% coupon priced at 105.76, and the 2042 bonds have a 5% coupon priced at 115.52.
Proceeds will be used to finance improvements to the district's wastewater system and to fund a debt service reserve.
| Issuer: | Metropolitan St. Louis Sewer District
|
| Issue: | Series 2012A wastewater system revenue bonds
|
| Amount: | $225 million
|
| Type: | Negotiated
|
| Underwriter: | Bank of America Merrill Lynch
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AAA
|
| Fitch: AA+
|
| Pricing date: | Aug. 8
|
| Settlement date: | Aug. 23
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $5 million | 2016 | Serial | 4% | 112.58
|
| $5.3 million | 2017 | Serial | 5% | 119.493
|
| $5.3 million | 2018 | Serial | 3% | 110.798
|
| $5.3 million | 2019 | Serial | 4% | 117.172
|
| $5.3 million | 2020 | Serial | 5.25% | 126.553
|
| $5.3 million | 2021 | Serial | 4% | 117.532
|
| $5.3 million | 2022 | Serial | 5% | 127.312
|
| $5.3 million | 2023 | Serial | 5% | 125.8
|
| $2.28 million | 2024 | Serial | 3% | 106.584
|
| $2.72 million | 2024 | Serial | 5% | 124.605
|
| $5 million | 2025 | Serial | 5% | 123.522
|
| $5 million | 2026 | Serial | 5% | 122.645
|
| $655,000 | 2027 | Serial | 2.5% | 98.542
|
| $4,345,000 | 2027 | Serial | 5% | 121.967
|
| $5 million | 2028 | Serial | 5% | 121.294
|
| $5 million | 2029 | Serial | 5% | 120.625
|
| $240,000 | 2030 | Serial | 2.75% | 98.89
|
| $4.76 million | 2030 | Serial | 5% | 119.961
|
| $5 million | 2031 | Serial | 5% | 119.395
|
| $5 million | 2032 | Serial | 5% | 118.832
|
| $530,000 | 2033 | Serial | 3% | 99.691
|
| $905,000 | 2034 | Serial | 3% | 98.582
|
| $1 million | 2035 | Serial | 3.125% | 99.433
|
| $1 million | 2036 | Serial | 3.125% | 98.431
|
| $31,345,000 | 2039 | Term | 4% | 105.76
|
| $103.12 million | 2042 | Term | 5% | 115.52
|
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