Published on 4/8/2013 in the Prospect News Municipals Daily.
New Issue: Wisconsin Public Power sells $179.75 million power supply revenue bonds
By Sheri Kasprzak
New York, April 8 -- The Wisconsin Public Power Inc. came to market with $179.75 million of series 2013A power supply revenue bonds, according to an official statement.
The bonds (A1/A/A+) were sold through Barclays.
The bonds are due 2015 to 2033 with a term bond due in 2037. The serial coupons range from 3% to 5% with 0.54% to 3.48% yields. The 2037 bonds have a split maturity with a 4% coupon to yield 4.05% and a 5% coupon to yield 3.65%.
Proceeds will be used to refund the corporation's series 2003A and 2005A power supply revenue bonds.
| Issuer: | Wisconsin Public Power Inc.
|
| Issue: | Series 2013A power supply revenue bonds
|
| Amount: | $179.75 million
|
| Type: | Negotiated
|
| Underwriters: | Barclays (lead), BMO Capital Markets and J.P. Morgan Securities LLC
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A
|
| Fitch: A+
|
| Pricing date: | April 3
|
| Settlement date: | April 18
|
|
|
| Amount | Maturity | Type | Coupon | Yield
|
| $695,000 | 2015 | Serial | 3% | 0.54%
|
| $4.15 million | 2016 | Serial | 5% | 0.75%
|
| $7.75 million | 2017 | Serial | 4% | 0.90%
|
| $8.01 million | 2018 | Serial | 5% | 1.16%
|
| $8.53 million | 2019 | Serial | 5% | 1.42%
|
| $8.9 million | 2020 | Serial | 5% | 1.72%
|
| $9,455,000 | 2021 | Serial | 5% | 2.00%
|
| $9.8 million | 2022 | Serial | 5% | 2.25%
|
| $10.33 million | 2023 | Serial | 5% | 2.44%
|
| $10.73 million | 2024 | Serial | 5% | 2.62%
|
| $6,295,000 | 2025 | Serial | 5% | 2.81%
|
| $6,495,000 | 2026 | Serial | 4% | 3.15%
|
| $6,385,000 | 2027 | Serial | 5% | 3.13%
|
| $7,075,000 | 2028 | Serial | 5% | 3.23%
|
| $7,495,000 | 2029 | Serial | 5% | 3.29%
|
| $7,785,000 | 2030 | Serial | 5% | 3.35%
|
| $8,235,000 | 2031 | Serial | 5% | 3.40%
|
| $8.55 million | 2032 | Serial | 5% | 3.45%
|
| $9,035,000 | 2033 | Serial | 5% | 3.48%
|
| $2.95 million | 2037 | Term | 4% | 4.05%
|
| $30.65 million | 2037 | Term | 5% | 3.65%
|
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