By Sheri Kasprzak
New York, Nov. 5 - Tampa Bay Water of Florida sold $104.645 million of series 2011 utility system refunding revenue bonds on Wednesday, according to an official statement.
The bonds (Aa2/AA+/AA+) priced through Bank of America Merrill Lynch with Citigroup Global Markets Inc. and Raymond James & Associates Inc. as the co-managers.
The bonds are due 2012 to 2021 with 5% coupons and yields from 1.46% to 3.89%.
Proceeds will be used to refund its series 2001A utility system refunding and improvement revenue bonds.
| Issuer: | Tampa Bay Water
|
| Issue: | Series 2011 utility system refunding revenue bonds
|
| Amount: | $104.645 million
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch (lead), Citigroup Global Markets Inc. and Raymond James & Associates Inc. (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA+
|
| Fitch: AA+
|
| Pricing date: | Nov. 3
|
| Settlement date: | July 7, 2011
|
|
|
| Amount | Maturity | Type | Coupon | Yield | Price
|
| $8.325 million | 2012 | Serial | 5% | 1.46% | 104.309
|
| $8.735 million | 2013 | Serial | 5% | 1.71% | 107.176
|
| $9.17 million | 2014 | Serial | 5% | 2.03% | 109.246
|
| $9.63 million | 2015 | Serial | 5% | 2.35% | 110.615
|
| $10.115 million | 2016 | Serial | 5% | 2.65% | 111.409
|
| $10.615 million | 2017 | Serial | 5% | 2.96% | 111.529
|
| $11.14 million | 2018 | Serial | 5% | 3.24% | 111.263
|
| $11.71 million | 2019 | Serial | 5% | 3.52% | 110.493
|
| $12.29 million | 2020 | Serial | 5% | 3.71% | 110.001
|
| $12.915 million | 2021 | Serial | 5% | 3.89% | 109.291
|
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