By Aaron Hochman-Zimmerman
New York, June 16 - Wichita, Kan., prices $132.62 million in water and sewer utility bonds (/A-/) over two tranches on Monday, according to Kelly Carpenter, financial director.
The $119.775 million non-taxable series 2009A bonds carry serial maturities from 2009 to 2029 with term bonds due 2034 and 2039 and were priced at a true interest cost of 4.86%.
The $12.845 million taxable series 2009B bonds carry serial maturities from 2009 to 2019 and were priced at a true interest cost of 5.165%.
Citigroup Global Markets Inc. acted as the lead underwriter for the negotiated deal, while George K. Baum & Co. acted as co-manager. Springsted Inc. acted as financial adviser.
Proceeds will be used for an aquifer storage and recovery project.
| Issuer: | Wichita, Kan.
|
| Issue: | Series 2009 water and sewer utility bonds
|
| Total amount: | $132.62 million
|
| True interest cost: | 4.67%
|
| Underwriters: | Citigroup Global Markets Inc. (lead), George K. Baum & Co. (co-manager)
|
| Type: | Negotiated
|
| Pricing date: | June 15
|
| Rating: | Standard & Poor's: A-
|
|
|
| Series 2009A
|
| Issue: | Series 2009A non-taxable water and sewer utility bonds
|
| Amount: | $119.775 million
|
| Maturities: | 2009 to 2029 (serial), 2034, 2039 (term)
|
| True interest cost: | 4.86%
|
|
|
| Series 2009B
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| Issue: | Series 2009B taxable water and sewer utility bonds
|
| Amount: | $12.845 million
|
| Maturities: | 2009 to 2019
|
| True interest cost: | 5.165%
|
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