By Aaron Hochman-Zimmerman
New York, March 19 - The Missouri Joint Municipal Electric Utility Commission priced $103.135 million power project revenue bonds at a true interest cost of 6.153192% on Wednesday, according to Mike Loethen, commission chief financial officer.
The bonds were split into two tranches.
The commission priced $99.975 million of the series 2009A bonds with serial bonds due from 2013 to 2019 and term bonds due in 2019, 2029 and 2039. The serial bonds carried yields from 3.5% to 4.5%, while the term bonds will yield 5.25%, 5.75% and 6%, respectively.
The commission also priced $3.106 million series 2009B bonds due in 2012.
J.P. Morgan Securities Inc. acted as lead underwriter for the negotiated deal.
Proceeds will be used to finance a portion of the costs to acquire an interest in a coal-fired generating unit under construction near Weston, Mo.
The Missouri Joint Municipal Electric Utility Commission is headquartered in Columbia, Mo.
Issuer: Missouri Joint Municipal Electric Utility Commission
Issue: Power project revenue bonds
| Amount: | $103.135 million
|
| Maturities: | 2012 to 2039
|
| TIC: | 6.153192%
|
| Type: | Negotiated
|
| Underwriter: | J.P. Morgan Securities Inc.
|
| Pricing date: | March 18
|
|
|
| Series 2009A bonds
|
| Amount: | $99.975 million
|
| Serial maturities: | 2013 to 2019
|
| Yield range: | 3.5% to 4.5%
|
| Term bonds: | 2019 to yield 5.25%, 2029 to yield 5.75%, 2039 to yield 6%
|
|
|
| Series 2009B bonds
|
| Amount: | $3.106 million
|
| Maturity: | 2012
|
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