By Sheri Kasprzak
New York, Oct. 26 - Tampa Bay Water of Florida sold $66.98 million in series 2010 utility system refunding revenue bonds on Tuesday, according to a term sheet.
The bonds (Aa2/AA+/AA+) were sold through Raymond James & Associates Inc. and Citigroup Global Markets Inc.
The bonds are due 2025 to 2027 with 4% to 5% coupons.
Proceeds will be used to refund the authority's series 1998A and 2001B revenue bonds.
| Issuer: | Tampa Bay Water
|
| Issue: | Series 2010 utility system refunding revenue bonds
|
| Amount: | $66.98 million
|
| Type: | Negotiated
|
| Underwriters: | Raymond James & Associates Inc. and Citigroup Global Markets Inc. (lead)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA+
|
| Fitch: AA+
|
| Pricing date: | Oct. 26
|
| Settlement date: | Nov. 10
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $25.845 million | 2025 | Serial | 5% | 110.945
|
| $20.065 million | 2026 | Serial | 5% | 110.247
|
| $19.35 million | 2027 | Serial | 4% | 109.554
|
| $1.72 million | 2027 | Serial | 5% | 99.026
|
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