Published on 9/12/2012 in the Prospect News Municipals Daily.
New Issue: Metro Water District of Southern California prices $62.04 million bonds
By Sheri Kasprzak
New York, Sept. 12 - The Metropolitan Water District of Southern California sold $62.04 million of series 2012F water revenue refunding bonds, according to a pricing sheet.
The bonds (Aa1/AAA/AA+) were sold through Ramirez & Co. Inc. The co-managers were Siebert Brandford Shank & Co. LLC and Stone & Youngberg.
The bonds are due 2015, 2019 to 2021 and 2027 to 2028. The coupons range from 3% to 5%.
Proceeds will be used to refund the district's series 2003B-3 water revenue bonds, 2003B-4 water revenue bonds, 2006A-1 water revenue refunding bonds and 2006A-2 water revenue refunding bonds.
| Issuer: | Metropolitan Water District of Southern California
|
| Issue: | Series 2012F water revenue refunding bonds
|
| Amount: | $62.04 million
|
| Type: | Negotiated
|
| Underwriters: | Ramirez & Co. Inc. (lead), Siebert Brandford Shank & Co. LLC and Stone & Youngberg (co-managers)
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AAA
|
| Fitch: AA+
|
| Pricing date: | Sept. 12
|
| Settlement date: | Oct. 4
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $700,000 | 2015 | Serial | 3% | 107.167
|
| $2 million | 2019 | Serial | 3% | 111.211
|
| $9,085,000 | 2019 | Serial | 4% | 117.654
|
| $3 million | 2020 | Serial | 4% | 118.286
|
| $8,715,000 | 2020 | Serial | 5% | 125.572
|
| $11.65 million | 2021 | Serial | 5% | 126.513
|
| $13.23 million | 2027 | Serial | 5% | 122.559
|
| $13.66 million | 2028 | Serial | 5% | 121.976
|
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