Published on 4/12/2012 in the Prospect News Municipals Daily.
New Issue: West Virginia Economic Development sells $104.54 million revenue bonds
By Sheri Kasprzak
New York, April 12 - The West Virginia Economic Development Authority sold $104,535,000 of series 2012 lease revenue refunding bonds, according to a pricing sheet.
The offering included $81.31 million of series 2012A correctional, juvenile and public safety revenue refunding bonds and $23,225,000 of series 2012B West Virginia Department of Environmental Protection Office Building revenue refunding bonds.
The 2012A bonds are due 2013 to 2029 with 2% to 5% coupons. The 2012B bonds are due 2012 to 2029 with coupons from 2% to 5%.
The bonds (Aa2//AA) were sold through Citigroup Global Markets Inc. The co-managers were Janney Montgomery Scott LLC, Raymond James & Associates Inc. and RBC Capital Markets LLC.
Proceeds will be used to current refund the authority's series 2002A-B revenue bonds and advance refund its series 2003A and 2004A revenue bonds.
| Issuer: | West Virginia Economic Development Authority
|
| Issue: | Series 2012 lease revenue refunding bonds
|
| Amount: | $104,535,000
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead), Janney Montgomery Scott LLC, Raymond James & Associates Inc. and RBC Capital Markets LLC (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Fitch: AA
|
| Pricing date: | April 4
|
| Settlement date: | April 19
|
|
|
| $81.31 million series 2012A correctional, juvenile and public safety revenue refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $500,000 | 2013 | Serial | 2% | 101.69
|
| $990,000 | 2014 | Serial | 5% | 108.885
|
| $1,035,000 | 2015 | Serial | 5% | 112.112
|
| $1,095,000 | 2016 | Serial | 5% | 114.393
|
| $1,145,000 | 2017 | Serial | 5% | 116.477
|
| $1.2 million | 2018 | Serial | 5% | 117.503
|
| $1,265,000 | 2019 | Serial | 5% | 117.916
|
| $1.32 million | 2020 | Serial | 5% | 118.098
|
| $1.39 million | 2021 | Serial | 5% | 117.942
|
| $1.46 million | 2022 | Serial | 5% | 117.719
|
| $1.53 million | 2023 | Serial | 5% | 116.199
|
| $1.61 million | 2024 | Serial | 5% | 114.981
|
| $12,085,000 | 2025 | Serial | 5% | 113.871
|
| $12,685,000 | 2026 | Serial | 5% | 112.865
|
| $13.32 million | 2027 | Serial | 5% | 112.139
|
| $13.99 million | 2028 | Serial | 5% | 111.419
|
| $14.69 million | 2029 | Serial | 5% | 110.794
|
|
|
| $23,225,000 series 2012B West Virginia Department of Environmental Protection Office Building revenue refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $900,000 | 2012 | Serial | 2% | 100.932
|
| $950,000 | 2013 | Serial | 2% | 102.241
|
| $100,000 | 2014 | Serial | 3% | 105.48
|
| $875,000 | 2014 | Serial | 5% | 110.485
|
| $200,000 | 2015 | Serial | 3% | 106.602
|
| $820,000 | 2015 | Serial | 5% | 113.516
|
| $1.07 million | 2016 | Serial | 5% | 115.568
|
| $1.11 million | 2017 | Serial | 3% | 106.946
|
| $1,145,000 | 2018 | Serial | 4% | 112.191
|
| $1,195,000 | 2019 | Serial | 4% | 111.623
|
| $1,245,000 | 2020 | Serial | 5% | 118.512
|
| $1.3 million | 2021 | Serial | 4% | 109.89
|
| $1.36 million | 2022 | Serial | 5% | 117.848
|
| $1,415,000 | 2023 | Serial | 3% | 98.844
|
| $1.46 million | 2024 | Serial | 3.25% | 98.982
|
| $1.51 million | 2025 | Serial | 3.375% | 98.873
|
| $1.56 million | 2026 | Serial | 3.5% | 99.098
|
| $1,615,000 | 2027 | Serial | 3.5% | 97.536
|
| $1,665,000 | 2028 | Serial | 3.625% | 97.985
|
| $1.73 million | 2029 | Serial | 3.75% | 98.858
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
