Published on 1/30/2014 in the Prospect News Municipals Daily.
New Issue: Tarrant Regional Water, Texas, brings $202.13 million of revenue bonds
By Sheri Kasprzak
New York, Jan. 30 - The Tarrant Regional Water District of Texas sold $202.13 million of series 2014 water revenue bonds, according to a pricing sheet. The deal was downsized from $323.74 million.
The bonds (/AAA/AA) were sold through competitive bid with Citigroup Global Markets Inc. as the winner.
The bonds are due 2015 to 2044 with 4% to 6% coupons with 0.29% to 4.28% yields.
Proceeds will be used to plan, design, construct and acquire improvements to the Tarrant County, Texas, water system.
| Issuer: | Tarrant Regional Water District
|
| Issue: | Series 2014 water revenue bonds
|
| Amount: | $202.13 million
|
| Type: | Competitive
|
| Underwriter: | Citigroup Global Markets Inc. (winner)
|
| Ratings: | Standard & Poor's: AAA
|
| Fitch: AA
|
| Pricing date: | Jan. 30
|
| Settlement date: | March 4
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $3.04 million | 2015 | Serial | 6% | 108.492 | 0.29%
|
| $3,195,000 | 2016 | Serial | 6% | 113.655 | 0.48%
|
| $3,355,000 | 2017 | Serial | 6% | 118.326 | 0.68%
|
| $3.52 million | 2018 | Serial | 6% | 121.907 | 1.00%
|
| $3.7 million | 2019 | Serial | 6% | 124.833 | 1.30%
|
| $3,885,000 | 2020 | Serial | 6% | 125.972 | 1.75%
|
| $4,075,000 | 2021 | Serial | 6% | 126.825 | 2.11%
|
| $4.28 million | 2022 | Serial | 6% | 127.595 | 2.39%
|
| $4,495,000 | 2023 | Serial | 6% | 128.824 | 2.56%
|
| $4.72 million | 2024 | Serial | 6% | 129.869 | 2.71%
|
| $4,955,000 | 2025 | Serial | 6% | 128.706 | 2.82%
|
| $5,205,000 | 2026 | Serial | 4% | 108.849 | 3.01%
|
| $5,465,000 | 2027 | Serial | 4% | 107.174 | 3.19%
|
| $5,735,000 | 2028 | Serial | 4% | 105.619 | 3.36%
|
| $6,025,000 | 2029 | Serial | 5% | 115.355 | 3.26%
|
| $6,325,000 | 2030 | Serial | 5% | 114.494 | 3.35%
|
| $6.64 million | 2031 | Serial | 5% | 113.358 | 3.47%
|
| $6,975,000 | 2032 | Serial | 5% | 112.608 | 3.55%
|
| $7.32 million | 2033 | Serial | 5% | 111.864 | 3.63%
|
| $7.69 million | 2034 | Serial | 5% | 111.402 | 3.68%
|
| $8,075,000 | 2035 | Serial | 5% | 110.942 | 3.73%
|
| $8,475,000 | 2036 | Serial | 5% | 110.576 | 3.77%
|
| $8.9 million | 2037 | Serial | 5% | 110.212 | 3.81%
|
| $9,345,000 | 2038 | Serial | 5% | 109.849 | 3.85%
|
| $9.81 million | 2039 | Serial | 5% | 109.487 | 3.89%
|
| $10.3 million | 2040 | Serial | 5% | 109.216 | 3.92%
|
| $108,815,000 | 2041 | Serial | 5% | 109.037 | 3.94%
|
| $11.36 million | 2042 | Serial | 5% | 108.857 | 3.96%
|
| $11,925,000 | 2043 | Serial | 5% | 108.767 | 3.97%
|
| $12,525,000 | 2044 | Serial | 4.25% | 99.491 | 4.28%
|
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