By Sheri Kasprzak
New York, Dec. 16 - The Monroe County Water Authority of New York priced $94.5 million of series 2010 water system revenue bonds on Tuesday, according to an official statement.
The deal included $1.585 million of series 2010A revenue bonds and $92.915 million of series 2010B Build America Bonds.
The 2010A bonds are due 2016 and 2017 with 4% coupons. The 2016 bonds have a 2.19% yield, and the 2017 bonds have a 2.6% yield.
The 2010B bonds are due 2018 to 2021 with term bonds due 2025, 2030, 2035 and 2042. The serial coupons range from 4.494% to 5.094%, all priced at par. The 2025 bonds have a 5.894% coupon priced at par, and the 2030 bonds have a 6.259% coupon, also priced at par. The 2035 bonds have a 6.339% coupon priced at par, and the 2042 bonds have a 6.459% coupon priced at par.
Jefferies & Co. was the senior manager.
Proceeds will be used to finance the construction of a 50-million gallon-per-day water treatment plant.
| Issuer: | Monroe County Water Authority
|
| Issue: | Series 2010 water system revenue bonds
|
| Amount: | $94.5 million
|
| Type: | Negotiated
|
| Underwriter: | Jefferies & Co.
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA+
|
| Pricing date: | Dec. 14
|
| Settlement date: | Dec. 21
|
|
|
| $1.585 million series 2010A
|
| Amount | Maturity | Type | Coupon | Yield
|
| $335,000 | 2016 | Serial | 4% | 2.19%
|
| $1.25 million | 2017 | Serial | 4% | 2.6%
|
|
|
| $92.915 million series 2010B
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.3 million | 2019 | Serial | 4.494% | 100
|
| $2.365 million | 2020 | Serial | 4.694% | 100
|
| $2.44 million | 2021 | Serial | 4.894% | 100
|
| $2.515 million | 2022 | Serial | 5.094% | 100
|
| $11.015 million | 2025 | Term | 5.894% | 100
|
| $16.385 million | 2030 | Term | 6.259% | 100
|
| $20.03 million | 2035 | Term | 6.339% | 100
|
| $35.865 million | 2042 | Term | 6.459% | 100
|
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