Published on 2/6/2015 in the Prospect News Municipals Daily.
New Issue: Tarrant Regional Water, Texas, sells $156.47 million of water bonds
By Sheri Kasprzak
New York, Feb. 6 – The Tarrant Regional Water District of Texas sold $156.47 million of series 2015 water revenue refunding bonds, according to a pricing sheet.
The bonds (/AAA/AA+) were sold through Citigroup Global Markets Inc.
The bonds are due 2016 to 2029 with 2% to 5% coupons and 0.3% to 2.41% yields.
Proceeds will be used to refund the district’s series 2006 water revenue bonds.
| Issuer: | Tarrant Regional Water District
|
| Issue: | Series 2015 water revenue refunding bonds
|
| Amount: | $156.47 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead), J.P. Morgan Securities LLC, Ramirez & Co. Inc. and RBC Capital Markets LLC (co-managers)
|
| Ratings: | Standard & Poor’s: AAA
|
| Fitch: AA+
|
| Pricing date: | Jan. 30
|
| Settlement date: | March 3
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $760,000 | 2016 | Serial | 2% | 101.686 | 0.30%
|
| $775,000 | 2017 | Serial | 2% | 102.872 | 0.55%
|
| $9,535,000 | 2018 | Serial | 5% | 112.561 | 0.75%
|
| $10.03 million | 2019 | Serial | 5% | 115.837 | 0.95%
|
| $10.54 million | 2020 | Serial | 5% | 118.688 | 1.14%
|
| $11,085,000 | 2021 | Serial | 5% | 120.949 | 1.35%
|
| $11.65 million | 2022 | Serial | 5% | 122.71 | 1.56%
|
| $15,985,000 | 2023 | Serial | 5% | 124.147 | 1.75%
|
| $14.4 million | 2024 | Serial | 5% | 125.331 | 1.92%
|
| $12,945,000 | 2025 | Serial | 5% | 126.743 | 2.03%
|
| $13.61 million | 2026 | Serial | 5% | 125.508 | 2.15%
|
| $14,305,000 | 2027 | Serial | 5% | 124.389 | 2.26%
|
| $15.04 million | 2028 | Serial | 5% | 123.482 | 2.35%
|
| $15.81 million | 2029 | Serial | 5% | 122.882 | 2.41%
|
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