Published on 10/11/2012 in the Prospect News Municipals Daily.
New Issue: Westlands Water District, Calif., sells $77 million of refunding bonds
By Sheri Kasprzak
New York, Oct. 11 - The Westlands Water District of California sold $77 million of series 2012A refunding revenue bonds, said a pricing sheet.
The bonds (/A+/AA-) were sold through Citigroup Global Markets Inc.
The bonds are due 2013 to 2032 with a term bond due in 2034. The serial coupons range from 2% to 5%. The 2034 bonds have a 5% coupon priced at 111.959.
Proceeds will be used to refund the district's series 2002A certificates of participation.
Issuer: | Westlands Water District, Calif.
|
Issue: | Series 2012A refunding revenue bonds
|
Amount: | $77 million
|
Type: | Negotiated
|
Underwriter: | Citigroup Global Markets Inc. (lead)
|
Rating: | Standard & Poor's: A+
|
Fitch: AA-
|
Pricing date: | Oct. 11
|
Settlement date: | Oct. 25
|
|
Amount | Maturity | Type | Coupon | Price
|
$2,315,000 | 2013 | Serial | 2% | 101.27
|
$2.26 million | 2014 | Serial | 3% | 104.219
|
$2,325,000 | 2015 | Serial | 3% | 106.011
|
$2,395,000 | 2016 | Serial | 4% | 111.261
|
$2.49 million | 2017 | Serial | 4% | 113.051
|
$2.59 million | 2018 | Serial | 4% | 114.191
|
$2,695,000 | 2019 | Serial | 4% | 114.324
|
$2.8 million | 2020 | Serial | 4% | 113.837
|
$2,915,000 | 2021 | Serial | 5% | 120.439
|
$3.06 million | 2022 | Serial | 5% | 120.252
|
$3,215,000 | 2023 | Serial | 5% | 118.536
|
$3,375,000 | 2024 | Serial | 5% | 117.783
|
$3,545,000 | 2025 | Serial | 5% | 116.664
|
$3.72 million | 2026 | Serial | 5% | 116.017
|
$3,905,000 | 2027 | Serial | 5% | 115.375
|
$4.1 million | 2028 | Serial | 5% | 114.827
|
$4,305,000 | 2029 | Serial | 5% | 114.283
|
$4,525,000 | 2030 | Serial | 5% | 113.741
|
$4,745,000 | 2031 | Serial | 5% | 113.203
|
$4,985,000 | 2032 | Serial | 5% | 112.579
|
$10,735,000 | 2034 | Term | 5% | 111.959
|
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