Published on 12/5/2013 in the Prospect News Municipals Daily.
New Issue: Metro St. Louis Sewer, Mo., brings $150 million wastewater system bonds
By Sheri Kasprzak
New York, Dec. 5 - The Metropolitan St. Louis Sewer District of Missouri priced $150 million of series 2013B wastewater system revenue bonds, according to a pricing sheet.
The bonds (Aa1/AAA/AA+) were sold through J.P. Morgan Securities LLC.
The bonds are due 2016 to 2035 with term bonds due in 2038, 2039 and 2043. The serial coupons range from 2% to 5%. The 2038 bonds have a 5% coupon priced at 105.11. The 2039 bonds have a 4.5% coupon priced at 98.506. The 2043 bonds have a 5% coupon priced at 104.249.
Proceeds will be used to finance sewer system improvements.
| Issuer: | Metropolitan St. Louis Sewer District, Mo.
|
| Issue: | Series 2013B wastewater system revenue bonds
|
| Amount: | $150 million
|
| Type: | Negotiated
|
| Underwriter: | J.P. Morgan Securities LLC (lead)
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AAA
|
| Fitch: AA+
|
| Pricing date: | Dec. 5
|
| Settlement date: | Dec. 18
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1 million | 2016 | Serial | 2% | 103.672
|
| $750,000 | 2017 | Serial | 3% | 107.471
|
| $2.25 million | 2017 | Serial | 4% | 110.792
|
| $1.5 million | 2018 | Serial | 3% | 107.994
|
| $1.5 million | 2018 | Serial | 4% | 112.246
|
| $3 million | 2019 | Serial | 4% | 112.574
|
| $2,305,000 | 2020 | Serial | 4% | 111.966
|
| $1 million | 2020 | Serial | 5% | 117.92
|
| $1.38 million | 2021 | Serial | 2.25% | 99.258
|
| $2.06 million | 2021 | Serial | 5% | 117.758
|
| $3,515,000 | 2022 | Serial | 5% | 117.451
|
| $3.69 million | 2023 | Serial | 5% | 117.297
|
| $3,875,000 | 2024 | Serial | 5% | 115.519
|
| $4.07 million | 2025 | Serial | 5% | 114.294
|
| $4,275,000 | 2026 | Serial | 5% | 113.17
|
| $4.49 million | 2027 | Serial | 5% | 112.06
|
| $4.71 million | 2028 | Serial | 5% | 111.046
|
| $4,945,000 | 2029 | Serial | 5% | 110.126
|
| $5,195,000 | 2030 | Serial | 4% | 100
|
| $5.4 million | 2031 | Serial | 5% | 108.233
|
| $5.67 million | 2032 | Serial | 5% | 107.664
|
| $5,955,000 | 2033 | Serial | 4.5% | 101.524
|
| $6,225,000 | 2034 | Serial | 4.5% | 101.062
|
| $6,505,000 | 2035 | Serial | 4.5% | 100.603
|
| $21,425,000 | 2038 | Term | 5% | 105.11
|
| $7.87 million | 2039 | Term | 4.5% | 98.506
|
| $35.44 million | 2043 | Term | 5% | 104.249
|
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