By Sheri Kasprzak
New York, March 3 - The Municipal Electric Authority of Georgia priced $1,141,225,000 in series 2010 Plant Vogtle project J bonds (A2/A+/A+) on Wednesday, according to pricing sheets.
The deal included $1,114,655,000 in series 2010A project J Build America Bonds and $26.57 million in series 2010B project J tax-exempt bonds.
The 2010A project J bonds are due 2057 and have a 6.637% coupon, priced at par. The 2010B bonds are due 2017 to 2019 with split term bonds due 2040. All of the 2010B bonds have 5% coupons, but the yields were not immediately available.
The MEAG sale also includes $953.24 million in series 2010A project M Build America Bonds, $19.68 million in series 2010B project M tax-exempt bonds, $410.88 million in series 2010A project P Build America Bonds and $8.245 million in series 2010B project P tax-exempt bonds. The pricing dates for these bonds have not yet been set.
Goldman Sachs & Co. is the senior manager for all of the bonds.
Proceeds will be used to construct new Plant Vogtle electric generation facilities.
| Issuer: | Municipal Electric Authority of Georgia
|
| Issue: | Series 2010 Plant Vogtle project J bonds
|
| Amount: | $1,141,225,000
|
| Type: | Negotiated
|
| Underwriters: | Goldman Sachs & Co.
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A+
|
| Fitch: A+
|
| Pricing date: | March 3
|
| Settlement date: | March 11
|
|
|
| Series 2010A project J bonds
|
| Maturity | Type | Coupon | Price
|
| 2057 | Term | 6.637% | 100
|
|
|
| Series 2010B project J bonds
|
| Maturity | Type | Coupon
|
| 2017 | Serial | 5%
|
| 2018 | Serial | 5%
|
| 2019 | Serial | 5%
|
| 2040 | Term | 5%
|
| 2040 | Term | 5%
|
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