Published on 8/3/2016 in the Prospect News Municipals Daily.
New Issue: Omaha Public Power, Neb., sells $182.7 million of electric system bonds
By Sheri Kasprzak
New York, Aug. 3 – The Omaha Public Power District of Nebraska priced $182.7 million of series 2016A electric system revenue bonds, according to a pricing sheet. The deal was upsized from $177.56 million.
The bonds (Aa2/AA) were sold through Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC.
The bonds are due 2023 to 2039 with 3% to 5% coupons.
Proceeds will be used for capital purposes and to refund the district’s series 2009A, 2011B and 2012A bonds.
| Issuer: | Omaha Public Power District
|
| Issue: | Series 2016A electric system revenue bonds
|
| Amount: | $182.7 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC (lead), Ameritas Investment Corp., BofA Merrill Lynch, D.A. Davidson & Co., Drexel Hamilton LLC, Fidelity Capital Markets Inc., Goldman, Sachs & Co., J.P. Morgan Securities LLC, Piper Jaffray & Co., Ramirez & Co. Inc., Raymond James/Morgan Keegan and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Moody’s: Aa2
|
| S&P: AA
|
| Pricing date: | Aug. 2
|
| Settlement date: | Aug. 24
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $18.09 million | 2023 | Serial | 5% | 123.12
|
| $17.01 million | 2024 | Serial | 5% | 125.499
|
| $17.82 million | 2025 | Serial | 5% | 127.727
|
| $18.72 million | 2026 | Serial | 5% | 129.667
|
| $19,355,000 | 2027 | Serial | 5% | 128.455
|
| $20,395,000 | 2028 | Serial | 5% | 127.157
|
| $21 million | 2029 | Serial | 5% | 126.465
|
| $3,905,000 | 2030 | Serial | 5% | 125.875
|
| $3,975,000 | 2031 | Serial | 5% | 125.386
|
| $4,345,000 | 2032 | Serial | 4% | 114.253
|
| $4,565,000 | 2033 | Serial | 4% | 113.799
|
| $4,785,000 | 2034 | Serial | 4% | 113.346
|
| $5,095,000 | 2035 | Serial | 4% | 112.896
|
| $5.3 million | 2036 | Serial | 4% | 112.448
|
| $5,795,000 | 2037 | Serial | 4% | 112.18
|
| $6,185,000 | 2038 | Serial | 4% | 112.091
|
| $4,165,000 | 2039 | Serial | 3% | 99.836
|
| $2,195,000 | 2039 | Serial | 4% | 112.002
|
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