Published on 3/26/2013 in the Prospect News Municipals Daily.
New Issue: Northeast Ohio Regional Sewer brings $248.97 million of wastewater revenue bonds
By Sheri Kasprzak
New York, March 26 - The Northeast Ohio Regional Sewer District sold $248,965,000 of series 2013 wastewater improvement revenue bonds, according to a pricing sheet.
The bonds (Aa1) were sold through Siebert Brandford Shank & Co. LLC.
The bonds are due 2020 to 2033 with term bonds due in 2038 and 2043. The serial coupons range from 2% to 5%. The 2038 bonds have a 5% coupon priced at 113.55 and the 2043 bonds have a 5% coupon priced at 112.64.
Proceeds will be used to finance various system improvements.
| Issuer: | Northeast Ohio Regional Sewer District
|
| Issue: | Series 2013 wastewater improvement revenue bonds
|
| Amount: | $248,965,000
|
| Type: | Negotiated
|
| Underwriter: | Siebert Brandford Shank & Co. LLC (lead)
|
| Rating: | Moody's: Aa1
|
| Pricing date: | March 26
|
| Settlement date: | April 18
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.5 million | 2020 | Serial | 2% | 102.123
|
| $2.88 million | 2020 | Serial | 4% | 116.281
|
| $1.6 million | 2021 | Serial | 2% | 100.55
|
| $500,000 | 2021 | Serial | 3% | 108.418
|
| $1,685,000 | 2021 | Serial | 5% | 124.153
|
| $350,000 | 2022 | Serial | 3% | 107.319
|
| $1.55 million | 2022 | Serial | 5% | 124.542
|
| $500,000 | 2023 | Serial | 3% | 106.261
|
| $1,555,000 | 2024 | Serial | 5% | 122.642
|
| $1 million | 2025 | Serial | 4% | 111.118
|
| $2,065,000 | 2025 | Serial | 5% | 121.051
|
| $4,715,000 | 2026 | Serial | 5% | 120.07
|
| $4.95 million | 2027 | Serial | 5% | 119.194
|
| $5,195,000 | 2028 | Serial | 5% | 118.423
|
| $5,405,000 | 2029 | Serial | 5% | 117.848
|
| $5.64 million | 2030 | Serial | 5% | 117.276
|
| $5,895,000 | 2031 | Serial | 4% | 105.08
|
| $6.13 million | 2032 | Serial | 5% | 116.331
|
| $8.5 million | 2033 | Serial | 4% | 104.298
|
| $4,315,000 | 2033 | Serial | 5% | 115.955
|
| $58,205,000 | 2038 | Term | 5% | 113.55
|
| $124.83 million | 2043 | Term | 5% | 112.64
|
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