Published on 5/3/2016 in the Prospect News Municipals Daily.
New Issue: Whiting, Ind., prices $101.95 million BP Products North America bonds
By Sheri Kasprzak
New York, May 3 – The City of Whiting, Ind., priced $101,945,000 of series 2016A environmental facilities revenue bonds for BP Products North America Inc., said a pricing sheet. The deal was downsized from $120 million.
The bonds were sold through BofA Merrill Lynch and Morgan Stanley & Co. LLC.
The bonds are due March 1, 2046 and are variable-rate bonds with an initial yield of 2.19%.
Proceeds will be used to finance capital improvements to the sewer system at the company’s Whiting plant.
| Issuer: | Whiting, Ind./BP Products North America Inc.
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| Issue: | Series 2016A environmental facilities revenue bonds
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| Amount: | $101,945,000
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| Maturity: | March 1, 2046
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| Yield: | 2.19%
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| Type: | Negotiated
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| Underwriters: | BofA Merrill Lynch and Morgan Stanley & Co. LLC
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| Pricing date: | May 3
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| Settlement date: | May 6
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