Published on 3/28/2012 in the Prospect News Municipals Daily.
New Issue: West Basin Municipal Water, Calif., brings $50.33 million of bonds
By Sheri Kasprzak
New York, March 28 - The West Basin Municipal Water District of California brought $50,325,000 of series 2012A refunding revenue bonds, according to an official statement.
The bonds (Aa2/AA-/) were sold through lead managers Goldman, Sachs & Co. and Morgan Stanley & Co. LLC.
The bonds are due 2014 to 2029 with 3% to 5% coupons and yields from 0.62% to 3.63%.
Proceeds will be used to refund the district's series 2003A and 2010A certificates.
Issuer: | West Basin Municipal Water District
|
Issue: | Series 2012A refunding revenue bonds
|
Amount: | $50,325,000
|
Type: | Negotiated
|
Underwriters: | Goldman, Sachs & Co. and Morgan Stanley & Co. LLC (lead)
|
Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
|
Pricing date: | March 20
|
Settlement date: | April 12
|
|
Amount | Maturity | Type | Coupon | Yield
|
$2,055,000 | 2014 | Serial | 3% | 0.62%
|
$2,115,000 | 2015 | Serial | 4% | 0.87%
|
$2.2 million | 2016 | Serial | 4% | 1.11%
|
$2,285,000 | 2017 | Serial | 4% | 1.40%
|
$2.38 million | 2018 | Serial | 4% | 1.85%
|
$2,475,000 | 2019 | Serial | 3% | 2.17%
|
$2.55 million | 2020 | Serial | 5% | 2.47%
|
$2,675,000 | 2021 | Serial | 5% | 2.75%
|
$2.81 million | 2022 | Serial | 5% | 2.95%
|
$2.95 million | 2023 | Serial | 5% | 3.11%
|
$3.1 million | 2024 | Serial | 5% | 3.24%
|
$590,000 | 2025 | Serial | 5% | 3.33%
|
$3,505,000 | 2026 | Serial | 5% | 3.42%
|
$5.91 million | 2027 | Serial | 5% | 3.50%
|
$6,205,000 | 2028 | Serial | 5% | 3.57%
|
$6.52 million | 2029 | Serial | 5% | 3.63%
|
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