Published on 10/21/2015 in the Prospect News Municipals Daily.
New Issue: Missouri Joint Municipal Electric prices $80.69 million of power bonds
By Sheri Kasprzak
New York, Oct. 21 – The Missouri Joint Municipal Electric Utility Commission sold $80,685,000 of series 2015A power supply revenue refunding bonds, according to a pricing sheet.
The bonds (A2) were sold through Barclays.
The bonds are due 2016 to 2038 with 3% to 5% coupons and yields from 0.52% to 3.915%.
Proceeds will be used to refund the commission’s series 2006A and 2009A revenue bonds.
| Issuer: | Missouri Joint Municipal Electric Utility Commission
|
| Issue: | Series 2015A power supply revenue refunding bonds
|
| Amount: | $80,685,000
|
| Type: | Negotiated
|
| Underwriters: | Barclays (lead), BofA Merrill Lynch, Goldman Sachs & Co., J.P. Morgan Securities LLC and Wells Fargo Securities LLC (co-managers)
|
| Rating: | Moody’s: A2
|
| Pricing date: | Oct. 21
|
| Settlement date: | Nov. 5
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $205,000 | 2016 | Serial | 3% | 102.648 | 0.52%
|
| $215,000 | 2017 | Serial | 3% | 104.448 | 0.83%
|
| $220,000 | 2018 | Serial | 3% | 105.786 | 1.08%
|
| $225,000 | 2019 | Serial | 3% | 106.638 | 1.32%
|
| $235,000 | 2020 | Serial | 4% | 111.595 | 1.61%
|
| $245,000 | 2021 | Serial | 4% | 112.293 | 1.85%
|
| $250,000 | 2022 | Serial | 4% | 112.495 | 2.09%
|
| $260,000 | 2023 | Serial | 4% | 112.222 | 2.33%
|
| $270,000 | 2024 | Serial | 5% | 120.268 | 2.49%
|
| $285,000 | 2025 | Serial | 5% | 119.938 | 2.63%
|
| $295,000 | 2026 | Serial | 5% | 118.543 | 2.78%
|
| $345,000 | 2027 | Serial | 5% | 117.349 | 2.91%
|
| $4.57 million | 2029 | Serial | 3.25% | 98.331 | 3.40%
|
| $4,715,000 | 2030 | Serial | 5% | 114.916 | 3.18%
|
| $4,945,000 | 2031 | Serial | 5% | 114.294 | 3.25%
|
| $5,285,000 | 2032 | Serial | 3.375% | 96.774 | 3.63%
|
| $4,435,000 | 2033 | Serial | 3.5% | 97.25 | 3.71%
|
| $15.9 million | 2034 | Serial | 5% | 112.542 | 3.45%
|
| $17,835,000 | 2035 | Serial | 5% | 112.108 | 3.50%
|
| $6.15 million | 2036 | Serial | 5% | 111.936 | 3.52%
|
| $6.39 million | 2037 | Serial | 5% | 111.677 | 3.55%
|
| $7.41 million | 2038 | Serial | 3.75% | 97.5 | 3.915%
|
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