Published on 9/21/2012 in the Prospect News Municipals Daily.
New Issue: Omaha Public Power brings $499.37 million electric system revenue bonds
By Sheri Kasprzak
New York, Sept. 21 - The Omaha Public Power District of Nebraska brought $499.37 million of series 2012 electric system revenue bonds, said a pricing sheet.
The bonds were sold through Citigroup Global Markets Inc. and Goldman, Sachs & Co. The co-managers were RBC Capital Markets LLC, Wells Fargo Securities LLC, Ameritas Securities Corp., Fidelity Capital Markets LLC, J.P. Morgan Securities LLC, Edward D. Jones & Co. LP, Morgan Stanley & Co. LLC, Piper Jaffray & Co. LLC, Bank of America Merrill Lynch and Ramirez & Co. Inc.
The deal included $272,655,000 of series 2012A bonds and $226,715,000 of series 2012B bonds.
The 2012A bonds are due 2023 to 2034 with term bonds due in 2037 and 2042. The serial coupons range from 4% to 5%. The 2037 bonds have a 5% coupon priced at 114.733 and the 2042 bonds have a 5% coupon priced at 114.213.
The 2012B bonds are due 2017 to 2034 with term bonds due in 2039 and 2046. The serial coupons range from 3% to 5%. The 2039 bonds have a split maturity with a 3.75% coupon priced at par and a 5% coupon priced at 114.473. The 2046 bonds have a 4% coupon priced at 101.316.
Proceeds will be used for capital expenditures and refunding activity.
| Issuer: | Omaha Public Power District
|
| Issue: | Series 2012 electric system revenue bonds
|
| Amount: | $499.37 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. and Goldman, Sachs & Co. (lead), RBC Capital Markets LLC, Wells Fargo Securities LLC, Ameritas Securities Corp., Fidelity Capital Markets LLC, J.P. Morgan Securities LLC, Edward D. Jones & Co. LP, Morgan Stanley & Co. LLC, Piper Jaffray & Co. LLC, Bank of America Merrill Lynch and Ramirez & Co. Inc. (co-managers)
|
| Pricing date: | Sept. 21
|
| Settlement date: | Oct. 10
|
|
|
| $272,655,000 series 2012A bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $10.9 million | 2023 | Serial | 5% | 123.543
|
| $9,905,000 | 2024 | Serial | 5% | 122.787
|
| $10.19 million | 2025 | Serial | 5% | 121.943
|
| $10.66 million | 2026 | Serial | 5% | 121.198
|
| $11.06 million | 2027 | Serial | 5% | 120.643
|
| $11.65 million | 2028 | Serial | 5% | 120.091
|
| $12.05 million | 2029 | Serial | 5% | 119.542
|
| $12.48 million | 2030 | Serial | 4% | 107.812
|
| $11,835,000 | 2031 | Serial | 4% | 107.392
|
| $12,515,000 | 2032 | Serial | 4% | 106.974
|
| $12.99 million | 2033 | Serial | 4% | 106.309
|
| $13,245,000 | 2034 | Serial | 4% | 105.649
|
| $42.33 million | 2037 | Term | 5% | 114.733
|
| $90,845,000 | 2042 | Term | 5% | 114.213
|
|
|
| $226,715,000 series 2012B bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $5.63 million | 2017 | Serial | 3% | 109.164
|
| $6.37 million | 2017 | Serial | 4% | 113.387
|
| $5,085,000 | 2018 | Serial | 3% | 109.607
|
| $5,085,000 | 2019 | Serial | 4% | 115.252
|
| $5,085,000 | 2020 | Serial | 4% | 115.742
|
| $5,085,000 | 2021 | Serial | 3% | 108.255
|
| $4,115,000 | 2022 | Serial | 4% | 116.353
|
| $4,855,000 | 2023 | Serial | 5% | 123.543
|
| $4,855,000 | 2024 | Serial | 5% | 122.787
|
| $6,795,000 | 2025 | Serial | 5% | 121.943
|
| $2.68 million | 2026 | Serial | 3% | 100
|
| $4,115,000 | 2026 | Serial | 5% | 121.198
|
| $6,795,000 | 2027 | Serial | 4% | 110.547
|
| $9.71 million | 2028 | Serial | 5% | 120.091
|
| $9,705,000 | 2029 | Serial | 5% | 119.542
|
| $11.65 million | 2030 | Serial | 3.5% | 100
|
| $14.56 million | 2032 | Serial | 4% | 106.974
|
| $11.01 million | 2033 | Serial | 4% | 106.309
|
| $3.55 million | 2033 | Serial | 5% | 117.465
|
| $14.56 million | 2034 | Serial | 5% | 116.753
|
| $3.27 million | 2039 | Term | 3.75% | 100
|
| $25.85 million | 2039 | Term | 5% | 114.473
|
| $56.3 million | 2046 | Term | 4% | 101.316
|
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