Published on 11/14/2013 in the Prospect News Municipals Daily.
New Issue: Missouri State Environmental prices $101.54 million water revenue bonds
By Sheri Kasprzak
New York, Nov. 14 - The Missouri State Environmental Improvement and Energy Resources Authority sold $101,535,000 of series 2013A water pollution and drinking water state revolving funds program refunding revenue bonds, said a pricing sheet.
The bonds (Aaa//AAA) were sold through BofA Merrill Lynch and Wells Fargo Securities LLC.
The bonds are due 2014 to 2027 with 2% to 5% coupons and 0.12% to 3.40% yields.
Proceeds will be used to finance loans to local governments for qualified clean and wastewater facilities, as well as to refund existing debt.
| Issuer: | Missouri State Environmental Improvement and Energy Resources Authority
|
| Issue: | Series 2013A water pollution and drinking water state revolving funds program refunding revenue bonds
|
| Amount: | $101,535,000
|
| Type: | Negotiated
|
| Underwriters: | BofA Merrill Lynch and Wells Fargo Securities LLC (lead), George K. Baum & Co., Citigroup Global Markets Inc., Piper Jaffray & Co., J.P. Morgan Securities LLC, Siebert Brandford Shank & Co. LLC and Stifel, Nicolaus & Co. Inc. (co-managers)
|
| Ratings: | Moody's: Aaa
|
| Fitch: AAA
|
| Pricing date: | Nov. 14
|
| Settlement date: | Nov. 26
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1,945,000 | 2014 | Serial | 5% | 100.474 | 0.12%
|
| $975,000 | 2014 | Serial | 5% | 102.881 | 0.17%
|
| $15,000 | 2015 | Serial | 2% | 101.916 | 0.25%
|
| $1.03 million | 2015 | Serial | 3% | 104.298 | 0.30%
|
| $15,000 | 2016 | Serial | 3% | 105.402 | 0.41%
|
| $2,685,000 | 2016 | Serial | 4% | 109.047 | 0.49%
|
| $15,000 | 2017 | Serial | 3% | 107.225 | 0.64%
|
| $6,155,000 | 2017 | Serial | 5% | 114.939 | 0.78%
|
| $25,000 | 2018 | Serial | 3% | 108.008 | 1.00%
|
| $2,095,000 | 2018 | Serial | 5% | 117.092 | 1.17%
|
| $1.64 million | 2019 | Serial | 4% | 112.799 | 1.39%
|
| $3.03 million | 2019 | Serial | 5% | 118.426 | 1.55%
|
| $20,000 | 2020 | Serial | 3% | 106.899 | 1.80%
|
| $7,135,000 | 2020 | Serial | 5% | 118.793 | 1.95%
|
| $20,000 | 2021 | Serial | 3% | 105.633 | 2.14%
|
| $11.53 million | 2021 | Serial | 5% | 118.949 | 2.27%
|
| $2.2 million | 2022 | Serial | 4% | 111.319 | 2.45%
|
| $11,785,000 | 2022 | Serial | 5% | 118.974 | 2.53%
|
| $2.34 million | 2023 | Serial | 5% | 118.794 | 2.66%
|
| $13.41 million | 2023 | Serial | 5% | 119.142 | 2.72%
|
| $14,775,000 | 2024 | Serial | 5% | 117.297 | 2.92%
|
| $8.04 million | 2025 | Serial | 4% | 107.333 | 3.11%
|
| $1.02 million | 2025 | Serial | 5% | 116.477 | 3.01%
|
| $2.55 million | 2025 | Serial | 5% | 116.025 | 3.06%
|
| $6,815,000 | 2026 | Serial | 5% | 115.127 | 3.16%
|
| $270,000 | 2027 | Serial | 5% | 113.005 | 3.40%
|
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