New Issue: Municipal Electric Authority of Georgia prices $299.43 million of revenue bonds

By Sheri Kasprzak

New York, Jan. 3 - The Municipal Electric Authority of Georgia sold $299,425,000 of series 2012 taxable general resolution bonds, according to a pricing sheet.

The offering included $58.04 million of series 2012A taxable general power revenue bonds (A1/A+/A+), $81.16 million of series 2012A taxable subordinate general resolution bonds (A2/A/A+), $100.65 million of taxable series four power revenue bonds (A1/A+/A+) and $59,575,000 of series 2012A taxable subordinate project one bonds (A2/A/A+).

The 2012A taxable general power revenue bonds are due 2013 to 2028 with 1.58% to 4.98% coupons, all priced at par.

The 2012A taxable subordinate general resolution bonds are due 2018 to 2022 with 3.52% to 4.43% coupons, all priced at par.

The taxable series four power revenue bonds are due 2013 to 2028 with 1.58% to 4.98% coupons, all priced at par.

The series 2012A taxable subordinate project one bonds are due in 2020 and 2022. The 2020 bonds have a 4.03% coupon priced at par, and the 2022 bonds have a 4.43% coupon priced at par.

The bonds were sold competitively. The issuer did not return calls for the winning bidder.

Proceeds from the sale will be used to finance a variety of capital improvements.

Issuer:	Municipal Electric Authority of Georgia
Issue:	Series 2012 taxable general resolution power revenue bonds
Amount:	$299,425,000
Type:	Competitive
Ratings:	Moody's: A1 (for senior), A2 (for subordinate)
	Standard & Poor's: A+ (for senior), A (for subordinate)
	Fitch: A
Pricing date:	Dec. 29
Settlement date:	Jan. 18
$58.04 million series 2012A taxable general power revenue bonds
Amount	Maturity	Type	Coupon	Price
$45,000	2013	Serial	1.58%	100
$45,000	2014	Serial	1.78%	100
$55,000	2015	Serial	2.41%	100
$55,000	2016	Serial	2.66%	100
$55,000	2017	Serial	3.11%	100
$4,295,000	2018	Serial	3.27%	100
$4,435,000	2019	Serial	3.57%	100
$4,595,000	2020	Serial	3.78%	100
$4.77 million	2021	Serial	3.98%	100
$4.96 million	2022	Serial	4.18%	100
$5,165,000	2023	Serial	4.33%	100
$5.39 million	2024	Serial	4.48%	100
$5,635,000	2025	Serial	4.63%	100
$5,895,000	2026	Serial	4.78%	100
$6.17 million	2027	Serial	4.88%	100
$6,475,000	2028	Serial	4.98%	100
$81.16 million series 2012A taxable subordinate general resolution bonds
Amount	Maturity	Type	Coupon	Price
$4.41 million	2018	Serial	3.52%	100
$1.03 million	2019	Serial	3.77%	100
$1.48 million	2020	Serial	4.03%	100
$775,000	2021	Serial	4.23%	100
$73,465,000	2022	Serial	4.43%	100
$100.65 million taxable series four power revenue bonds
Amount	Maturity	Type	Coupon	Price
$40,000	2013	Serial	1.58%	100
$40,000	2014	Serial	1.78%	100
$40,000	2015	Serial	2.41%	100
$45,000	2016	Serial	2.76%	100
$45,000	2017	Serial	3.11%	100
$16.83 million	2018	Serial	3.27%	100
$27,435,000	2019	Serial	3.57%	100
$30,125,000	2020	Serial	3.78%	100
$3,235,000	2021	Serial	3.98%	100
$3.36 million	2022	Serial	4.18%	100
$2,895,000	2023	Serial	4.33%	100
$3.02 million	2024	Serial	4.48%	100
$3,155,000	2025	Serial	4.63%	100
$3.3 million	2026	Serial	4.78%	100
$3.46 million	2027	Serial	4.88%	100
$3,625,000	2028	Serial	4.98%	100
$59,575,000 series 2012A taxable subordinated project one bonds
Amount	Maturity	Type	Coupon	Price
$18,615,000	2020	Term	4.03%	100
$40.96 million	2022	Term	4.43%	100

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