Published on 1/9/2013 in the Prospect News Municipals Daily.
New Issue: Oklahoma Municipal Power prices $133.23 million power supply system revenue bonds
By Sheri Kasprzak
New York, Jan. 9 - The Oklahoma Municipal Power Authority sold $133.23 million of series 2013A power supply system revenue bonds, according to a pricing sheet.
The bonds (/A/A) were sold through Bank of America Merrill Lynch.
The bonds are due 2028 to 2033 with term bonds due in 2038, 2043 and 2047. The serial coupons range from 3.125% to 3.375%. All of the term bonds have a 4% coupon and were not reoffered.
Proceeds will be used to construct a new power generating facility.
The wholesale electricity provider to municipalities is based in Edmond, Okla.
| Issuer: | Oklahoma Municipal Power Authority
|
| Issue: | Series 2013A power supply system revenue bonds
|
| Amount: | $133.23 million
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch (lead), BOSC Inc., J.P. Morgan Securities LLC and RBC Capital Markets LLC (co-managers)
|
| Ratings: | Standard & Poor's: A
|
| Fitch: A
|
| Pricing date: | Jan. 9
|
| Settlement date: | Jan. 31
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $4,345,000 | 2028 | Serial | 3.125% | 98.413
|
| $3,815,000 | 2029 | Serial | 3.125% | 97.844
|
| $3,935,000 | 2030 | Serial | 3.25% | 98.587
|
| $4,065,000 | 2031 | Serial | 3.25% | 97.734
|
| $4.2 million | 2032 | Serial | 3.375% | 98.551
|
| $4,345,000 | 2033 | Serial | 3.375% | 97.934
|
| $24,315,000 | 2038 | Term | 4% | NRO
|
| $30,885,000 | 2043 | Term | 4% | NRO
|
| $53,325,000 | 2047 | Term | 4% | NRO
|
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