Published on 4/23/2015 in the Prospect News Municipals Daily.
New Issue: North Texas Municipal Water prices $302.13 million water system bonds
By Sheri Kasprzak
New York, April 23 – The North Texas Municipal Water District sold $302,125,000 of series 2015 water system revenue refunding and improvement bonds on Thursday, according to a pricing sheet.
The bonds (Aa2/AAA/) were sold competitively.
The bonds are due 2015 to 2036 with a term bond due in 2044. The serial coupons range from 3% to 5%. The 2044 bonds have a 4% coupon priced at 103.401.
Proceeds will be used to construct the Trinity Main Stem pump station, to purchase pipe material for the Trinity Maine Stem raw water pipeline, for construction of Wylie Water Treatment Plant Chemical System improvements and to refund existing debt for debt service savings.
| Issuer: | North Texas Municipal Water District
|
| Issue: | Series 2015 water system revenue refunding and improvement bonds
|
| Amount: | $302,125,000
|
| Type: | Competitive
|
| Ratings: | Moody’s: Aa2
|
| Standard & Poor’s: AAA
|
| Pricing date: | April 23
|
| Settlement date: | May 28
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $4,205,000 | 2015 | Serial | 3% | 100.733
|
| $1.8 million | 2016 | Serial | 3% | 103.285
|
| $10.96 million | 2017 | Serial | 5% | 109.64
|
| $11.51 million | 2018 | Serial | 5% | 112.79
|
| $2,085,000 | 2019 | Serial | 5% | 115.457
|
| $2.19 million | 2020 | Serial | 5% | 117.909
|
| $5,105,000 | 2021 | Serial | 5% | 119.642
|
| $5,385,000 | 2022 | Serial | 5% | 121.149
|
| $2,535,000 | 2023 | Serial | 5% | 122.559
|
| $2.66 million | 2024 | Serial | 5% | 123.618
|
| $2,795,000 | 2025 | Serial | 5% | 124.648
|
| $2.93 million | 2026 | Serial | 5% | 123.411
|
| $18,245,000 | 2027 | Serial | 5% | 122.19
|
| $19.16 million | 2028 | Serial | 5% | 121.083
|
| $20,135,000 | 2029 | Serial | 5% | 120.484
|
| $8.28 million | 2030 | Serial | 3% | 98.001
|
| $22,255,000 | 2031 | Serial | 5% | 119.199
|
| $23,395,000 | 2032 | Serial | 5% | 118.611
|
| $24.54 million | 2033 | Serial | 5% | 118.221
|
| $25.75 million | 2034 | Serial | 5% | 117.833
|
| $27.01 million | 2035 | Serial | 5% | 117.543
|
| $11.31 million | 2036 | Serial | 5% | 117.253
|
| $47,885,000 | 2044 | Term | 4% | 103.401
|
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