Published on 2/16/2012 in the Prospect News Municipals Daily.
New Issue: Arizona Water Infrastructure prices $212.21 million water quality revenue bonds
By Sheri Kasprzak
New York, Feb. 16 - The Arizona Water Infrastructure Finance Authority priced $212.21 million of series 2012 water quality revenue refunding bonds, according to a pricing sheet.
The deal included $164.61 million of series 2012A bonds and $47.6 million of series 2012B taxable bonds.
The 2012A bonds are due 2018 to 2025 with 4% to 5% coupons. The 2012B bonds are due 2015 to 2018 with term bonds due 2012. The serial coupons range from 0.2% to 1.837% coupons, all priced at par. The 2012 bonds have a 0.2% coupon priced at par.
The bonds (Aaa//AAA) were sold through senior manager Morgan Stanley & Co. LLC.
Proceeds will be used to refund a portion of the authority's outstanding debt.
| Issuer: | Arizona Water Infrastructure Finance Authority
|
| Issue: | Series 2012 water quality revenue refunding bonds
|
| Amount: | $212.21 million
|
| Type: | Negotiated
|
| Underwriter: | Morgan Stanley & Co. LLC
|
| Ratings: | Moody's: Aaa
|
| Fitch: AAA
|
| Pricing date: | Feb. 16
|
| Settlement date: | March 7
|
|
|
| $164.61 million series 2012A bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $3 million | 2018 | Serial | 4% | 117.629
|
| $6,025,000 | 2018 | Serial | 5% | 123.925
|
| $4 million | 2019 | Serial | 4% | 118.132
|
| $15.1 million | 2019 | Serial | 5% | 125.271
|
| $6 million | 2020 | Serial | 4% | 117.913
|
| $13 million | 2020 | Serial | 5% | 125.84
|
| $5 million | 2021 | Serial | 4% | 118.097
|
| $24.34 million | 2021 | Serial | 5% | 126.799
|
| $5 million | 2022 | Serial | 4% | 117.609
|
| $23,525,000 | 2022 | Serial | 5% | 127.026
|
| $23,045,000 | 2023 | Serial | 5% | NRO
|
| $20,625,000 | 2024 | Serial | 5% | NRO
|
| $15.95 million | 2025 | Serial | 5% | NRO
|
|
|
| $47.6 million series 2012B taxable bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $2 million | 2012 | Term | 0.2% | 100
|
| $8.4 million | 2015 | Serial | 0.871% | 100
|
| $12.93 million | 2016 | Serial | 1.163% | 100
|
| $14,755,000 | 2017 | Serial | 1.413% | 100
|
| $9,515,000 | 2018 | Serial | 1.837% | 100
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
