Published on 11/21/2014 in the Prospect News Municipals Daily.
New Issue: Missouri Joint Municipal Electric prices $192.6 million of Plum Point bonds
By Sheri Kasprzak
New York, Nov. 21 – The Missouri Joint Municipal Electric Utility Commission sold $192,605,000 of series 2014A power project revenue refunding bonds for the Plum Point Energy Station, according to a pricing sheet.
The bonds (/A-/) were sold through senior managers Wells Fargo Securities LLC and J.P. Morgan Securities LLC.
The bonds are due 2017 to 2034 with 5% coupons and yields from 0.65% to 3.51%.
Proceeds will be used to refund a portion of the commission’s series 2006 bonds.
| Issuer: | Missouri Joint Municipal Electric Utility Commission/Plum Point Energy Station
|
| Issue: | Series 2014A power project revenue refunding bonds
|
| Amount: | $192,605,000
|
| Type: | Negotiated
|
| Underwriters: | Wells Fargo Securities LLC and J.P. Morgan Securities LLC (lead), BofA Merrill Lynch, BMO Capital Markets Corp., Barclays and Goldman Sachs & Co. (co-managers)
|
| Rating: | Standard & Poor’s: A-
|
| Pricing date: | Nov. 13
|
| Settlement date: | Dec. 10
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $6.84 million | 2017 | Serial | 5% | 108.879 | 0.65%
|
| $7.19 million | 2018 | Serial | 5% | 112.211 | 0.94%
|
| $7.55 million | 2019 | Serial | 5% | 114.707 | 1.27%
|
| $7,925,000 | 2020 | Serial | 5% | 116.456 | 1.60%
|
| $8,325,000 | 2021 | Serial | 5% | 117.409 | 1.94%
|
| $8,735,000 | 2022 | Serial | 5% | 117.782 | 2.26%
|
| $9,175,000 | 2023 | Serial | 5% | 117.822 | 2.54%
|
| $9,635,000 | 2024 | Serial | 5% | 118.282 | 2.71%
|
| $10,115,000 | 2025 | Serial | 5% | 118.685 | 2.85%
|
| $10.62 million | 2026 | Serial | 5% | 117.157 | 3.01%
|
| $11.15 million | 2027 | Serial | 5% | 116.215 | 3.11%
|
| $11.71 million | 2028 | Serial | 5% | 115.374 | 3.20%
|
| $12,295,000 | 2029 | Serial | 5% | 114.725 | 3.27%
|
| $12.91 million | 2030 | Serial | 5% | 113.989 | 3.35%
|
| $13,555,000 | 2031 | Serial | 5% | 113.531 | 3.40%
|
| $14,235,000 | 2032 | Serial | 5% | 113.076 | 3.45%
|
| $14,945,000 | 2033 | Serial | 5% | 112.804 | 3.48%
|
| $15,695,000 | 2034 | Serial | 5% | 112.533 | 3.51%
|
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