Published on 7/9/2014 in the Prospect News Municipals Daily.
New Issue: Walnut Energy Center, Calif., sells $113.63 million revenue bonds
By Sheri Kasprzak
New York, July 9 – The Walnut Energy Center Authority of California sold $113,625,000 of series 2014A revenue refunding bonds, according to a pricing sheet.
The bonds (/AA-/A+) were sold through Citigroup Global Markets Inc.
The bonds are due 2015 to 2034 with 2% to 5% coupons.
Proceeds will be used to refund and defease the authority’s series 2004 revenue bonds.
Issuer: | Walnut Energy Center Authority
|
Issue: | Series 2014A revenue refunding bonds
|
Amount: | $113,625,000
|
Type: | Negotiated
|
Underwriters: | Citigroup Global Markets Inc. (lead), Goldman Sachs & Co. and Morgan Stanley & Co. LLC (co-managers)
|
Ratings: | Standard & Poor’s: AA-
|
| Fitch: A+
|
Pricing date: | July 9
|
Settlement date: | July 23
|
|
Amount | Maturity | Type | Coupon | Price
|
$1,035,000 | 2015 | Serial | 4% | 101.679
|
$3.42 million | 2016 | Serial | 2% | 102.438
|
$3,395,000 | 2017 | Serial | 4% | 108.524
|
$3,515,000 | 2018 | Serial | 4% | 110.509
|
$3.55 million | 2019 | Serial | 5% | 116.048
|
$3,795,000 | 2020 | Serial | 5% | 117.527
|
$4.65 million | 2021 | Serial | 5% | 117.527
|
$4,755,000 | 2022 | Serial | 5% | 118.663
|
$5,075,000 | 2023 | Serial | 5% | 119.248
|
$5,215,000 | 2024 | Serial | 5% | 119.233
|
$5.94 million | 2025 | Serial | 5% | 118.493
|
$6.28 million | 2026 | Serial | 5% | 117.264
|
$7,045,000 | 2027 | Serial | 5% | 116.329
|
$7.31 million | 2028 | Serial | 5% | 115.035
|
$7.7 million | 2029 | Serial | 5% | 113.848
|
$8 million | 2030 | Serial | 5% | 112.946
|
$8,405,000 | 2031 | Serial | 5% | 112.319
|
$7,605,000 | 2032 | Serial | 5% | 111.963
|
$7.93 million | 2033 | Serial | 5% | 111.431
|
$9,005,000 | 2034 | Serial | 5% | 110.99
|
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