Published on 5/7/2014 in the Prospect News Municipals Daily.
New Issue: New Jersey Environmental brings $60.45 million of infrastructure bonds
By Sheri Kasprzak
New York, May 7 - The New Jersey Environmental Infrastructure Trust sold $60.45 million of series 2014 environmental infrastructure bonds, said a pricing sheet.
The bonds (Aaa/AAA/AAA) were sold competitively. The issuer did not respond to requests for the winning bidder Wednesday.
The deal included $55.01 million of series 2014A bonds and $5.44 million of series 2014B AMT bonds.
The 2014A bonds are due 2015 to 2033 with coupons from 3% to 5%. The 2014B bonds are due 2015 to 2033 with 3% to 5% coupons.
Proceeds will be used to finance loans to local governments for wastewater projects and open space land preservation within the state.
| Issuer: | New Jersey Environmental Infrastructure Trust
|
| Issue: | Series 2014 environmental infrastructure bonds
|
| Amount: | $60.45 million
|
| Type: | Competitive
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | May 7
|
| Settlement date: | May 21
|
|
|
| $55.01 million series 2014A bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $1,475,000 | 2015 | Serial | 3% | 103.571
|
| $1.85 million | 2016 | Serial | 3% | 105.818
|
| $2,195,000 | 2017 | Serial | 5% | 114.083
|
| $2.25 million | 2018 | Serial | 5% | 116.707
|
| $2,355,000 | 2019 | Serial | 5% | 119.093
|
| $2,435,000 | 2020 | Serial | 5% | 120.559
|
| $2.55 million | 2021 | Serial | 5% | 121.733
|
| $2,665,000 | 2022 | Serial | 5% | 122.778
|
| $2,765,000 | 2023 | Serial | 5% | 123.757
|
| $2.88 million | 2024 | Serial | 5% | 124.585
|
| $2,995,000 | 2025 | Serial | 3% | 104.968
|
| $3.12 million | 2026 | Serial | 3% | 103.128
|
| $3,225,000 | 2027 | Serial | 3% | 101.772
|
| $3,345,000 | 2028 | Serial | 3% | 100.88
|
| $3.5 million | 2029 | Serial | 3% | 99.39
|
| $3,635,000 | 2030 | Serial | 3% | 98.726
|
| $3.78 million | 2031 | Serial | 3% | 97.358
|
| $3,925,000 | 2032 | Serial | 3.125% | 97.609
|
| $4,065,000 | 2033 | Serial | 3.25% | 98.584
|
|
|
| $5.44 million series 2014B AMT bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $200,000 | 2015 | Serial | 4% | 104.714
|
| $205,000 | 2016 | Serial | 4% | 107.797
|
| $210,000 | 2017 | Serial | 4% | 109.989
|
| $225,000 | 2018 | Serial | 4% | 111.197
|
| $230,000 | 2019 | Serial | 4% | 111.829
|
| $240,000 | 2020 | Serial | 5% | 117.613
|
| $245,000 | 2021 | Serial | 5% | 117.995
|
| $260,000 | 2022 | Serial | 5% | 118.585
|
| $270,000 | 2023 | Serial | 5% | 119.213
|
| $275,000 | 2024 | Serial | 5% | 120.021
|
| $290,000 | 2025 | Serial | 4% | 108.784
|
| $300,000 | 2026 | Serial | 3% | 98.78
|
| $315,000 | 2027 | Serial | 3.25% | 99.462
|
| $325,000 | 2028 | Serial | 3.25% | 98.311
|
| $345,000 | 2029 | Serial | 3.5% | 99.41
|
| $355,000 | 2030 | Serial | 3.5% | 98.529
|
| $365,000 | 2031 | Serial | 3.5% | 97.459
|
| $385,000 | 2032 | Serial | 4% | 101.854
|
| $400,000 | 2033 | Serial | 4% | 101.258
|
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