By Sheri Kasprzak
New York, May 4 - The Municipal Electric Authority of Georgia priced Wednesday $128.41 million in series 2010A combined cycle project revenue bonds, said an official statement.
The bonds (A1/A/) were sold through J.P. Morgan Securities Inc. The co-managers were Barclays Capital Inc.; BMO Capital Markets LLC; Bank of America Merrill Lynch; Citigroup Global Markets Inc.; Goldman, Sachs & Co.; Morgan Stanley & Co. Inc.; Wells Fargo Securities Inc.; Edward Jones & Co.; Fidelity Capital Markets; FirstSouthwest Co.; Jackson Securities Inc.; Jefferies & Co.; Morgan Keegan & Co. Inc.; Ramirez & Co. Inc.; and Raymond James & Associates Inc.
The bonds are due 2010 to 2029 with coupons from 2% to 5% and yields from 0.7% to 4.53%.
Proceeds will be used to refund the authority's series 2002A-B bonds and its 2003A bonds.
The authority, located in Atlanta, is an electric and gas utility.
| Issuer: | Municipal Electric Authority of Georgia
|
| Issue: | Series 2010A combined cycle project revenue bonds
|
| Amount: | $128.41 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities Inc. (lead); Barclays Capital Inc.; BMO Capital Markets LLC; Bank of America Merrill Lynch; Citigroup Global Markets Inc.; Goldman Sachs & Co.; Morgan Stanley & Co. Inc.; Wells Fargo Securities Inc.; Edward Jones & Co.; Fidelity Capital Markets; FirstSouthwest Co.; Jackson Securities Inc.; Jefferies & Co.; Morgan Keegan & Co. Inc.; Ramirez & Co. Inc.; and Raymond James & Associates Inc. (co-managers)
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A
|
| Pricing date: | April 28
|
| Settlement date: | May 11
|
|
|
| Maturity | Type | Coupon | Yield
|
| 2010 | Serial | 2% | 0.70%
|
| 2011 | Serial | 3% | 0.99%
|
| 2012 | Serial | 3% | 1.33%
|
| 2013 | Serial | 3% | 1.77%
|
| 2014 | Serial | 4% | 2.15%
|
| 2015 | Serial | 4% | 2.54%
|
| 2016 | Serial | 4% | 2.91%
|
| 2017 | Serial | 5% | 3.21%
|
| 2018 | Serial | 5% | 3.40%
|
| 2019 | Serial | 5% | 3.57%
|
| 2020 | Serial | 5% | 3.70%
|
| 2021 | Serial | 3.7% | 3.84%
|
| 2021 | Serial | 5% | 3.84%
|
| 2022 | Serial | 3.75% | 3.96%
|
| 2023 | Serial | 5% | 4.00%
|
| 2024 | Serial | 5% | 4.08%
|
| 2025 | Serial | 4.1% | 4.22%
|
| 2026 | Serial | 4.125% | 4.31%
|
| 2027 | Serial | 5% | 4.29%
|
| 2028 | Serial | 5% | 4.35%
|
| 2029 | Serial | 4.375% | 4.53%
|
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