Published on 8/18/2011 in the Prospect News Municipals Daily.
New Issue: Southern California Public Power sells $157.47 million revenue bonds
By Sheri Kasprzak
New York, Aug. 18 - The Southern California Public Power Authority priced $157.465 million of series 2011-1 revenue bonds for the Milford Wind Corridor Phase II project, according to a pricing sheet.
The bonds (/AA-/AA-) were sold through senior manager Barclays Capital Inc. with Bank of America Merrill Lynch, Citigroup Global Markets Inc., Loop Capital Markets LLC and Stone & Youngberg LLC as the co-managers.
The bonds are due 2012 to 2031 with 2% to 5.25% coupons.
Proceeds will be used to finance the prepayment for electricity supply from the wind-powered electric facility near Milford, Utah.
| Issuer: | Southern California Public Power Authority/Milford Wind Corridor Phase II project
|
| Issue: | Series 2011-1 revenue bonds
|
| Amount: | $157.465 million
|
| Type: | Negotiated
|
| Underwriters: | Barclays Capital Inc. (lead), Bank of America Merrill Lynch, Citigroup Global Markets Inc., Loop Capital Markets LLC and Stone & Youngberg LLC (co-managers)
|
| Ratings: | Standard & Poor's: AA-
|
| Fitch: AA-
|
| Pricing date: | Aug. 18
|
| Settlement date: | Aug. 25
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $4.235 million | 2012 | Serial | 2% | 101.467
|
| $5.065 million | 2013 | Serial | 4% | 106.57
|
| $5.27 million | 2014 | Serial | 5% | 112.444
|
| $550,000 | 2015 | Serial | 2% | 104.462
|
| $4.98 million | 2015 | Serial | 5% | 115.808
|
| $845,000 | 2016 | Serial | 3% | 108.356
|
| $4.95 million | 2016 | Serial | 5% | 117.747
|
| $6.065 million | 2017 | Serial | 5% | 119.098
|
| $2 million | 2018 | Serial | 4% | 112.946
|
| $4.37 million | 2018 | Serial | 5% | 119.324
|
| $6.665 million | 2019 | Serial | 5% | 119.605
|
| $580,000 | 2020 | Serial | 4% | 111.504
|
| $6.42 million | 2020 | Serial | 5% | 119.384
|
| $7.345 million | 2021 | Serial | 5% | 119.39
|
| $7.71 million | 2022 | Serial | 5.25% | 118.967
|
| $8.115 million | 2023 | Serial | 5.25% | 116.463
|
| $8.54 million | 2024 | Serial | 5.25% | 114.829
|
| $8.99 million | 2025 | Serial | 5.25% | 113.665
|
| $9.465 million | 2026 | Serial | 5.25% | 112.516
|
| $9.96 million | 2027 | Serial | 5.25% | 111.642
|
| $10.48 million | 2028 | Serial | 5.25% | 110.862
|
| $11.035 million | 2029 | Serial | 5.25% | 110.174
|
| $11.61 million | 2030 | Serial | 5.25% | 109.406
|
| $12.22 million | 2031 | Serial | 5.25% | 108.898
|
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