Published on 1/31/2013 in the Prospect News Municipals Daily.
New Issue: Tampa Bay Water, Fla., sells $75.3 million utility system revenue bonds
By Sheri Kasprzak
New York, Jan. 31 - Tampa Bay Water of Florida sold $75,295,000 of series 2013 utility system revenue bonds, according to a pricing sheet.
The bonds (Aa2/AA+/AA+) were sold through Bank of America Merrill Lynch.
The bonds are due 2032 to 2034 with 3.5% to 5% coupons. The 2038 bonds have a 5% coupon priced at 116.328.
Proceeds will be used to repair the utility's C.W. Bill Young Regional Reservoir in Hillsborough County, Fla.
| Issuer: | Tampa Bay Water
|
| Issue: | Series 2013 utility system revenue bonds
|
| Amount: | $75,295,000
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch (lead), Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and Raymond James/Morgan Keegan (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA+
|
| Fitch: AA+
|
| Pricing date: | Jan. 31
|
| Settlement date: | Feb. 7
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $9.26 million | 2032 | Serial | 5% | 119.524
|
| $9.68 million | 2033 | Serial | 3.5% | 101.961
|
| $10.11 million | 2034 | Serial | 5% | 118.313
|
| $46,245,000 | 2038 | Term | 5% | 116.328
|
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