Published on 7/24/2014 in the Prospect News Municipals Daily.
New Issue: Omaha Public Power District, Neb., sells $204.75 million revenue bonds
By Sheri Kasprzak
New York, July 24 – The Omaha Public Power District of Nebraska sold $204.75 million of series 2014 electric system revenue bonds, according to a pricing sheet. The offering was upsized from $111.15 million.
The deal included $155,545,000 of series 2014AA bonds and $49,205,000 of series 2014BB bonds.
The 2014AA bonds are due 2016 to 2027 with term bonds due in 2030, 2032, 2034 and 2036. The serial coupons range from 2% to 5% with 0.27% to 2.81% yields. The 2030 bonds have a 2.25% coupon priced at par and the 2032 bonds have a 5% coupon priced at 114.376 to yield 3.22%. The 2034 bonds have a 4% coupon priced at 102.688 to yield 3.66% and the 2036 bonds have a 4% coupon priced at 101.888 to yield 3.76%.
The 2014BB bonds are due Feb. 1, 2042 and have a 4% coupon priced at par.
The bonds (Aa3/AA-/) were sold through Morgan Stanley & Co. LLC and Edward D. Jones & Co. LP.
Proceeds will be used to refund the district’s series 2007AA, 2005B and 2006C revenue bonds.
| Issuer: | Omaha Public Power District
|
| Issue: | Series 2014 electric system subordinate revenue bonds
|
| Amount: | $204.75 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. LLC and Edward D. Jones & Co. LP (lead); Ameritas Investment Corp., BofA Merrill Lynch, Citigroup Global Markets Inc., Fidelity Capital Markets Inc., Goldman, Sachs & Co., J.P. Morgan Securities LLC, Piper Jaffray & Co., Ramirez & Co. Inc., RBC Capital Markets LLC and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Moody’s: Aa3
|
| Standard & Poor’s: AA-
|
| Pricing date: | July 24
|
| Settlement date: | Aug. 26
|
|
|
| $155,545,000 series 2014AA bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $95,000 | 2016 | Serial | 2% | 102.468 | 0.27%
|
| $95,000 | 2017 | Serial | 2% | 103.495 | 0.55%
|
| $1,095,000 | 2018 | Serial | 3% | 107.078 | 0.90%
|
| $1.09 million | 2019 | Serial | 4% | 111.77 | 1.26%
|
| $825,000 | 2020 | Serial | 4% | 112.601 | 1.57%
|
| $2.55 million | 2022 | Serial | 5% | 120.464 | 2.02%
|
| $2,555,000 | 2023 | Serial | 5% | 121.094 | 2.24%
|
| $2.56 million | 2024 | Serial | 5% | 121.73 | 2.41%
|
| $7,565,000 | 2025 | Serial | 5% | 120.048 | 2.59%
|
| $8.61 million | 2026 | Serial | 5% | 118.851 | 2.72%
|
| $10,445,000 | 2027 | Serial | 5% | 118.03 | 2.81%
|
| $30,965,000 | 2030 | Term | 2.25% | 100 | 2.25%
|
| $19,785,000 | 2032 | Term | 5% | 114.376 | 3.22%
|
| $38.89 million | 2034 | Term | 4% | 102.688 | 3.66%
|
| $28.42 million | 2036 | Term | 4% | 101.888 | 3.76%
|
|
|
| $49,205,000 series 2014BB bonds
|
| Maturity | Type | Coupon | Price
|
| Feb. 1, 2042 | Term | 4% | 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.
