By Sheri Kasprzak
New York, May 26 - The Trinity River Authority of Texas sold $69.28 million of series 2011 regional wastewater system revenue refunding bonds Thursday, said a term sheet.
The bonds (/AAA/AA+) were sold through RBC Capital Markets LLC. The co-managers were Citigroup Global Markets Inc.; Stifel, Nicolaus & Co.; M.R. Beal & Co.; Siebert Brandford Shank & Co. LLC; and Estrada Hinojosa & Co. Inc.
The bonds are due 2012 to 2020 with 3% to 5%.
Proceeds will be used to refund the authority's series 2001 bonds.
| Issuer: | Trinity River Authority
|
| Issue: | Series 2011 regional wastewater system revenue refunding bonds
|
| Amount: | $69.28 million
|
| Type: | Negotiated
|
| Underwriters: | RBC Capital Markets LLC (lead); Citigroup Global Markets Inc.; Stifel, Nicolaus & Co.; M.R Beal & Co.; Siebert Brandford Shank & Co. LLC; and Estrada Hinojosa & Co. Inc. (co-managers)
|
| Ratings: | Standard & Poor's: AAA
|
| Fitch: AA+
|
| Pricing date: | May 26
|
| Settlement date: | June 28
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $7.905 million | 2012 | Serial | 3% | 102.862
|
| $11.445 million | 2013 | Serial | 5% | 109.087
|
| $11.96 million | 2014 | Serial | 4% | 109.109
|
| $9.78 million | 2015 | Serial | 5% | 114.782
|
| $6.555 million | 2016 | Serial | 5% | 117.308
|
| $6.63 million | 2017 | Serial | 5% | 117.814
|
| $5.305 million | 2018 | Serial | 5% | 117.93
|
| $4.96 million | 2019 | Serial | 5% | 118.048
|
| $2.5 million | 2020 | Serial | 4.5% | 114.076
|
| $2.24 million | 2020 | Serial | 5% | 118.076
|
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