Published on 8/23/2012 in the Prospect News Municipals Daily.
New Issue: North Texas Municipal Water brings $57.21 million of improvement & refunding bonds
By Sheri Kasprzak
New York, Aug. 23 - The North Texas Municipal Water District priced $57,205,000 of series 2012 Upper East Fork Wastewater Interceptor System contract revenue refunding and improvement bonds, according to a pricing sheet.
The bonds (Aa1/AAA/) were sold competitively with Bank of America Merrill Lynch winning the bid with a 2.6375536% true interest cost, said Judd Sanderson, the district's finance director.
The bonds are due 2013 to 2032 with 2% to 5% coupons.
Proceeds will be used to construct the Lower Cottonwood Gravity Outfall, the Wilson Creek Interceptor, the Dublin Road Relift Station, the Lower Cottonwood Gravity Outfall and other wastewater interceptor pipelines and related facilities, as well as to refund existing debt.
| Issuer: | North Texas Municipal Water District
|
| Issue: | Series 2012 Upper East Fork Wastewater Inceptor System contract revenue refunding and improvement bonds
|
| Amount: | $57,205,000
|
| Type: | Competitive
|
| Underwriter: | Bank of America Merrill Lynch
|
| Trust interest cost: | 2.6375536%
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AAA
|
| Pricing date: | Aug. 23
|
| Settlement date: | Sept. 26
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2,145,000 | 2013 | Serial | 2% | 101.223
|
| $2,555,000 | 2014 | Serial | 3% | 104.453
|
| $2.62 million | 2015 | Serial | 3% | 106.703
|
| $2.71 million | 2016 | Serial | 4% | 112.318
|
| $2.77 million | 2017 | Serial | 5% | 119.002
|
| $2.86 million | 2018 | Serial | 5% | 120.804
|
| $2.93 million | 2019 | Serial | 5% | 122.167
|
| $3.02 million | 2020 | Serial | 5% | 123.34
|
| $3,095,000 | 2021 | Serial | 5% | 124.064
|
| $3,195,000 | 2022 | Serial | 5% | 125.381
|
| $3.3 million | 2023 | Serial | 3% | 105.863
|
| $3.44 million | 2024 | Serial | 4% | 112.823
|
| $2.38 million | 2025 | Serial | 4% | 111.548
|
| $2.48 million | 2026 | Serial | 3% | 100.836
|
| $2.61 million | 2027 | Serial | 3% | 100.248
|
| $2,745,000 | 2028 | Serial | 3% | 99.501
|
| $2.89 million | 2029 | Serial | 3% | 98.702
|
| $3,045,000 | 2030 | Serial | 3% | 98
|
| $3.14 million | 2031 | Serial | 3.125% | 98.671
|
| $3,275,000 | 2032 | Serial | 3.125% | 98
|
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