By Sheri Kasprzak
New York, Dec. 1 - The Northern Illinois Municipal Power Agency priced Wednesday $72.31 million of series 2010A power project taxable revenue bonds, according to a pricing sheet. The deal was upsized from $69.13 million.
The bonds are due Jan. 1, 2030 and Jan. 1, 2040. The 2030 bonds have a 7.62% coupon priced at par, and the 2040 bonds have a 7.82% coupon, also priced at par.
Citigroup Global Markets Inc. was the senior manager with BMO Capital Markets, Morgan Stanley & Co. Inc., J.P. Morgan Securities LLC and Wells Fargo Securities LLC as the co-managers.
Proceeds will be used to finance the agency's interest in the Prairie State Project, a coal-fired generating station with a connected mine.
Headquartered in Rochelle, Ill., the agency is comprised of municipal utilities.
Issuer: | Northern Illinois Municipal Power Agency
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Issue: | Series 2010A power project taxable revenue bonds
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Amount: | $72.31 million
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Type: | Negotiated
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Underwriters: | Citigroup Global Markets Inc. (lead), BMO Capital Markets, Morgan Stanley & Co. Inc., J.P. Morgan Securities LLC and Wells Fargo Securities LLC (co-managers)
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Pricing date: | Dec. 1
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Settlement date: | Dec. 15
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Amount | Maturity | Type | Coupon | Price
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$25.905 million | Jan. 1, 2030 | Term | 7.62% | 100
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$46.405 million | Jan. 1, 2040 | Term | 7.82% | 100
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