Published on 8/14/2012 in the Prospect News Municipals Daily.
New Issue: Springfield, Ill., prices $68.09 million of water revenue bonds
By Sheri Kasprzak
New York, Aug. 14 - The City of Springfield, Ill., sold $68,095,000 of series 2012 water revenue bonds, said a pricing sheet.
The bonds (Aa1/AA/) were sold through Wells Fargo Securities LLC.
The bonds are due 2013 to 2032 with a term bond due in 2037. The serial coupons range from 1.25% to 5%. The 2037 bonds have a 5% coupon priced at 112.129.
Proceeds will be used to finance capital improvement expenditures to the city's water supply system and to refund all or a portion of certain maturities of series 1997 and series 2004 water revenue bonds.
| Issuer: | City of Springfield, Ill.
|
| Issue: | Series 2012 water revenue bonds
|
| Amount: | $68,095,000
|
| Type: | Negotiated
|
| Underwriter: | Wells Fargo Securities LLC
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA
|
| Pricing date: | Aug. 14
|
| Settlement date: | Aug. 28
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $685,000 | 2013 | Serial | 2% | 100.791
|
| $1.38 million | 2014 | Serial | 3% | 103.613
|
| $1.72 million | 2015 | Serial | 4% | 107.982
|
| $1,955,000 | 2016 | Serial | 5% | 114.016
|
| $2.05 million | 2017 | Serial | 1.25% | 100
|
| $2,075,000 | 2018 | Serial | 5% | 118.437
|
| $2,175,000 | 2019 | Serial | 4% | 113.388
|
| $1.55 million | 2020 | Serial | 5% | 120.047
|
| $1.63 million | 2021 | Serial | 4% | 112.821
|
| $1,695,000 | 2022 | Serial | 2.5% | 100.168
|
| $1.81 million | 2023 | Serial | 4% | 111.637
|
| $1.96 million | 2024 | Serial | 5% | 118.712
|
| $2.06 million | 2025 | Serial | 5% | 117.887
|
| $2.16 million | 2026 | Serial | 5% | 117.16
|
| $250,000 | 2027 | Serial | 3% | 99.301
|
| $2,035,000 | 2027 | Serial | 5% | 116.348
|
| $2.41 million | 2028 | Serial | 5% | 115.721
|
| $2.53 million | 2029 | Serial | 5% | 115.276
|
| $2,655,000 | 2030 | Serial | 5% | 114.744
|
| $2,785,000 | 2031 | Serial | 5% | 114.215
|
| $65,000 | 2032 | Serial | 3.5% | 100
|
| $3,035,000 | 2032 | Serial | 5% | 113.864
|
| $27,425,000 | 2037 | Term | 5% | 112.129
|
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