New Issue: Oklahoma City Water Utilities sells $68.67 million of refunding bonds

By Sheri Kasprzak

New York, Jan. 14 – The Oklahoma City Water Utilities Trust of Oklahoma priced $68,665,000 of series 2015 water and sewer revenue refunding bonds, according to a pricing sheet.

The bonds are due 2018 to 2035 with term bonds due in 2039 and 2045. The serial coupons range from 3% to 5%. The 2039 bonds have a 4% coupon priced at 107.215, and the 2045 bonds have a 5% coupon priced at 119.842.

The bonds (Aa1/AAA/) were sold through BofA Merrill Lynch.

Proceeds will be used to refund existing water and sewer revenue bonds.

Issuer:	Oklahoma City Water Utilities Trust
Issue:	Series 2015 water and sewer revenue refunding bonds
Amount:	$68,665,000
Type:	Negotiated
Underwriter:	BofA Merrill Lynch
Ratings:	Moody’s: Aa1
	Standard & Poor’s: AAA
Pricing date:	Jan. 13
Settlement date:	Feb. 4
Amount	Maturity	Type	Coupon	Price
$1,235,000	2018	Serial	5%	113.766
$1,295,000	2019	Serial	5%	116.548
$1.36 million	2020	Serial	5%	119.146
$1.43 million	2021	Serial	5%	121.171
$1.5 million	2022	Serial	5%	122.721
$1,575,000	2023	Serial	5%	124.511
$1,655,000	2024	Serial	5%	126.197
$1,735,000	2025	Serial	5%	127.845
$1,825,000	2026	Serial	5%	126.237
$1,915,000	2027	Serial	5%	125.389
$2.01 million	2028	Serial	5%	124.968
$2.11 million	2029	Serial	5%	124.235
$2,215,000	2030	Serial	5%	123.714
$2.33 million	2031	Serial	5%	123.093
$2,395,000	2032	Serial	5%	122.578
$2,515,000	2033	Serial	3%	98.465
$2,595,000	2034	Serial	5%	121.76
$2.72 million	2035	Serial	5%	121.353
$11,915,000	2039	Term	4%	107.215
$22,335,000	2045	Term	5%	119.842

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